AMD To Acquire Major European AI Lab, Silo AI, In $665M Deal

As the world of artificial intelligence (AI) and generative artificial intelligence (GenAI) continues to grow and find increased adoption across a wide range of industries, AI companies are looking to take the lead by expanding their capabilities to offer improved AI technology products and high quality generative AI models.

This is the motive behind American multinational corporation and semiconductor company Advanced Micro Devices, Inc. AKA AMD’s latest move, which included signing an agreement with Europe’s largest private AI lab, Silo AI.

So, what did the two companies reveal about the move? Let’s explore!

What Is The AMD And Silo AI Agreement About?

Through a press release published on its website, AMD announced that it has entered into a definitive agreement with Silo AI to acquire it in an all-cash transaction valued at approximately $665 million.
According to the release, Silo AI CEO and co-founder Peter Sarlin will retain his role as the leader of the Silo AI team and will report to AMD Senior Vice President Vamsi Boppana.
AMD’s acquisition of Silo AI is the latest in a series of investments and purchases the company has made to boost its strategy to deliver end-to-end AI solutions.
This includes the acquisition of Mipsology and Nod.ai, which helps expand AMD’s AI ecosystem, support its partners and propel its computing platforms.
So far, AM has invested more than $125 million across a dozen AI companies in the last year.
AMD’s acquisition of Silo AI is aimed at accelerating the development and deployment of AMD-powered AI models and software solutions.
Furthermore, it “enhances open-source AI software capabilities for efficient training and inference on AMD compute platforms”.
The deal is expected to close in the second half of 2024.

What Does Silo AI’s Current Offerings Consist Of?

Through a blog post published on its website announcing the same definitive agreement, Silo AI mentioned that its team is stacked with world-class AI scientists and vastly experienced engineers that bring in capabilities suitable for designing customized and personalized AI models, platforms and solutions.
These applications can be leveraged by leading enterprises across cloud, embedded and endpoint computing markets, while its customer base includes companies such as Allianz, Philips, Rolls-Royce and Unilever.
Silo AI specializes in end-to-end AI-driven solutions that allow its customers to quickly integrate AI into their services, products and operations.
The company is headquartered in Helsinki, Finland and has presence in Europe and North America.
As per the release, “Silo AI also creates state-of-the-art open source multilingual LLMs, such as Poro and Viking, on AMD platforms in addition to its SiloGen model platform.”

TechDogs-"An Image With The Logos Of AMD And Silo AI"

Source

What Did Executives Of AMD And Silo AI Say?

Vamsi Boppana, senior vice president of the Artificial Intelligence Group at AMD, said, “Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs.”
[Contd.] “Silo AI’s team of trusted AI experts and proven experience developing leadership AI models and solutions, including state-of-the-art LLMs built on AMD platforms, will further accelerate our AI strategy and advance the build-out and rapid implementation of AI solutions for our global customers.”
Peter Sarlin, CEO and co-founder of Silo AI, said, “At Silo AI, our mission from the start has been to build an AI flagship company. Today's announcement is a logical next step in that pursuit as we join forces with AMD to shape the future of AI computing.”
[Contd.] “We have a well-established history of building successful AI products and delivering value to our customers.
[Contd.] “We look forward to becoming part of AMD to further scale our impact and develop enterprise solutions and AI models that address the most complex challenges with deploying AI at scale today.”

Do you think this move by AMD will help it improve its market position in the artificial intelligence industry? Do you think its competitors need to pay heed to the move and make similar moves?

Let us know in the comments below!

First published on Tue, Jul 16, 2024

Enjoyed what you've read so far? Great news - there's more to explore!

Stay up to date with the latest news, a vast collection of tech articles including introductory guides, product reviews, trends and more, thought-provoking interviews, hottest AI blogs and entertaining tech memes.

Plus, get access to branded insights such as informative white papers, intriguing case studies, in-depth reports, enlightening videos and exciting events and webinars from industry-leading global brands.

Dive into TechDogs' treasure trove today and Know Your World of technology!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.

Tags:

Artificial Intelligence (AI)Emerging Technology Artificial Intelligence AI Generative Artificial Intelligence GenAI AMD Silo AI Acquisition Purchase AI Lab

Join The Discussion

Emerging Technology