US chipmaker Advanced Micro Devices (AMD) said it will acquire Finnish artificial intelligence (AI) startup Silo AI for about $665 million as the company tries to expand the capabilities of its AI chips to compete with industry leader Nvidia. This is reported by Reuters.
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Creating and training large language models is a challenge even for large technology companies.
The purchase of Silo AI will help AMD improve the development and deployment of AMD-based AI models and help potential customers build complex AI models using the company's chips.
Silo AI will also strengthen AMD's software development capabilities.
While the deal will not impact AMD's financial performance, it will “unlock a significant amount of business moving forward,” AMD senior vice president of artificial intelligence Vamsi Boppana said in an interview.According to AMD, CEO Director and co-founder of Silo AI Peter Sarlin will continue to lead the division within the AMD Artificial Intelligence Group. The agreement is expected to be completed in the second half of 2024.
Strengthening position in AI
The acquisition of Silo AI marks the latest step in AMD's series of moves aimed at expanding its presence in AI .
Last year, AMD acquired artificial intelligence software companies Mipsology and Nod.ai. Over the past year, AMD has invested more than $125 million in a dozen companies in this industry.
Silo AI
Silo AI is based in Helsinki (Finland) and specializes in complex AI-based solutions, helping customers integrate technology into their products and services.
The startup operates in Europe and North America, and its clients include companies such as Philips, Rolls-Royce and Unilever.
