Chipmaker AMD will be acquiring Silo AI, Europe’s largest private (artificial intelligence) AI lab, in an all-cash transaction valued at approximately $665 million.
The Silo AI team, composed of top AI scientists and engineers, has a proven track record in developing tailored AI models and platforms for leading enterprises in various markets, including cloud, embedded, and endpoint computing.
Silo AI’s CEO and co-founder, Peter Sarlin, will continue to lead the team within the AMD Artificial Intelligence Group, reporting to Vamsi Boppana, SVP at AMD. The acquisition is expected to be finalized in the second half of 2024.
“Across every industry, enterprises seek rapid and efficient methods to develop and deploy AI solutions tailored to their unique business needs,” Boppana said. “Silo AI’s trusted team of experts and their experience in developing leading AI models and solutions, including state-of-the-art large language models (LLMs) on AMD platforms, will significantly accelerate our AI strategy and enhance the deployment of AI solutions for our global customers.”
Headquartered in Helsinki, Finland, with operations across Europe and North America, Silo AI specializes in comprehensive AI-driven solutions that enable customers to integrate AI swiftly into their products and operations. Their clientele includes prominent companies like Allianz, Philips, Rolls-Royce, and Unilever. Silo AI also develops cutting-edge open-source multilingual LLMs, such as Poro and Viking, on AMD platforms, alongside its SiloGen model platform.
“At Silo AI, our mission has always been to build a flagship AI company. Today’s announcement marks a logical progression in this journey as we join AMD to shape the future of AI computing,” Sarlin said. “We have a strong history of creating successful AI products and delivering value to our customers. We look forward to scaling our impact further and developing enterprise solutions and AI models that address the complex challenges of deploying AI at scale today.”
This acquisition is the latest in a series of strategic moves by AMD to boost its AI capabilities. Over the past year, AMD has invested more than $125 million across a dozen AI companies and acquired Mipsology and Nod.ai to expand its AI ecosystem, support partners, and advance leadership in AMD computing platforms.