AMD has announced that it has entered into a definitive agreement to acquire Silo AI, Europe's largest private artificial intelligence laboratory, in an all-cash transaction valued at approximately $665 million.
The agreement is another important step in the company's strategy to provide end-to-end AI solutions based on open standards and strong partnerships with the global AI ecosystem.
Based in Helsinki, Finland, with operations in Europe and North America, Silo AI specializes in AI-based solutions that help customers quickly and easily integrate AI into their products, services and operations.
Their work spans a variety of markets with clients such as Allianz, Philips, Rolls-Royce and Unilever. Silo AI also creates state-of-the-art open source multilingual LLMs such as Poro and Viking on AMD platforms in addition to the SiloGen model platform.
“At Silo AI, our mission from the beginning has been to build a pioneering company in the field of artificial intelligence. Today's announcement is the logical next step in that quest as we join forces with AMD to shape the future of AI computing,” said Peter Sarlin, CEO and co-founder of Silo AI.
“We have a strong track record of building successful AI products and delivering value to our customers.
We look forward to being a part of AMD to further expand our impact and develop enterprise solutions and AI models that solve the most complex problems with the widespread adoption of AI today.”
Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team as part of the AMD Artificial Intelligence Group, reporting to AMD Senior Vice President Vamsi Boppan. The acquisition is expected to close in the second half of 2024.
"Enterprises in every industry are looking for fast and efficient ways to develop and deploy AI solutions for their unique business needs," said Vamsi Boppana, senior vice president of AMD's Artificial Intelligence Group.
"Silo AI's team of trusted AI experts and proven track record developing leadership AI models and solutions, including state-of-the-art LLMs built on AMD platforms, will further accelerate our AI strategy and drive the building and rapid deployment of AI solutions . "
