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M&A
AMD signs definitive agreement to acquire Silo AI for USD 665 million; looks to bolster AI chip deployment
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Jul 10, 2024
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Generative AI Infrastructure

Generative AI Infrastructure

Jul 10, 2024

AMD signs definitive agreement to acquire Silo AI for USD 665 million; looks to bolster AI chip deployment

M&A

  • Advanced Micro Devices (AMD) has signed a definitive agreement to acquire Finnish AI startup Silo AI for USD 665 million in cash. The transaction is expected to close in the second half of 2024.

  • The acquisition aims to enhance AMD's AI chip capabilities, improve software development, and facilitate the development and deployment of AMD-powered AI models to better compete with industry leaders like Nvidia.

  • Silo AI specializes in end-to-end AI-driven solutions that help customers integrate AI technology into their products and services, with notable clients including Philips, Rolls-Royce, and Unilever. The company also develops open-source multilingual LLMs, such as Poro and Viking, on AMD platforms in addition to its SiloGen model platform.

  • The signing of the definitive agreements follows two AMD acquisitions last year: Mipsology, a startup focused on image inference computation, and Nod.ai, an open-source AI software company.

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