AMD acquires homegrown Silo AI, which specializes in artificial intelligence

The price of the cash transactions has been agreed to be $665 million, and the companies expect authorities to give them their blessing by the end of the year.

Processor giant AMD has announced that it has reached an agreement to acquire domestic Silo AI. Silo AI is a company specializing in artificial intelligence, founded in 2017 and described as the largest independent artificial intelligence company in Europe.

AMD and Silo AI have reached a $665 million deal, or a cool 614 million euros, in which Silo AI will be fully owned by AMD. The transactions will be made entirely in cash and are expected to receive approval from competition authorities during the current year. Silo AI CEO Peter Charlin will continue to lead his people as part of AMD’s artificial intelligence team.

Silo AI specializes in helping client organizations integrate artificial intelligence technologies into their operations. The company’s customer base includes the likes of Allianz, Philips, Rolls-Royce and Unilever. However, from AMD’s point of view, the company’s expertise in LLM language models, especially with AMD’s hardware, may be more essential. Silo AI has developed Poro and Viking language models for the Lumi supercomputer using AMD processors. Viking is an exceptional model that combines all Nordic languages ​​with traditional English and programming languages.

AMD is on a buying spree in the artificial intelligence market as, in addition to its recent deals, it has acquired companies specializing in artificial intelligence such as Mipsology and for $125 million or more. 115 million euros last year.

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Source: Press release

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