Semiconductor company AMD is planning to acquire Finnish AI startup Silo AI for $665m to boost its AI enterprise offering globally.
This move aligns with AMD's strategy to offer advanced AI models and end-to-end solutions through global partnerships. Over the past year, AMD has invested over $125m in AI companies including Mipsology and Nod.ai.
Vamsi Boppana, SVP of the AI Group at AMD said: “Silo AI will further accelerate our AI strategy and advance the build-out and rapid implementation of AI solutions for our global customers.”
Silo AI CEO Peter Sarlin will lead his team within AMD's AI Group, reporting to Boppana.
Sarlin added: “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.”
The deal is expected to close in the second half of 2024.
