Intel may want to be wary after arch-rival AMD announced the surprise acquisition of Silo AI, Europe’s largest private AI lab, for a deal worth around $665 million.
This all-cash deal marks a significant step in AMD’s strategy to deliver comprehensive AI solutions across platforms and industries.
Headquartered in Helsinki, Finland, Silo AI is best known for its end-to-end AI-driven solutions, which help companies seamlessly integrate AI into their products and operations. The company boasts a team of experts who have created custom AI models and platforms for top clients such as Allianz, Philips, Rolls-Royce and Unilever.
A strategic expansion
“At Silo AI, our mission from the beginning has been to build a flagship AI company. Today’s announcement is a natural next step in that endeavor as we join forces with AMD to shape the future of AI computing,” said Peter Sarlin, CEO and co-founder of Silo AI. “We have an established history of building successful AI products and delivering value to our customers. We look forward to joining AMD to further expand our impact and develop enterprise solutions and AI models that address the most complex challenges in deploying AI at scale today.”
The acquisition is part of AMD’s broader AI strategy, which has seen the company invest more than $125 million in several AI ventures over the past year, including the acquisitions of Mipsology and Nod.ai. This strategic expansion is intended to strengthen AMD’s AI ecosystem and computing platforms.
“Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs,” said AMD senior vice president Vamsi Boppana. “Silo AI’s team of trusted AI experts and proven experience developing industry-leading AI models and solutions, including state-of-the-art LLMs built on AMD platforms, will further accelerate our AI strategy and help drive the build-out and rapid deployment of AI solutions for our global customers.”
Sarlin will continue to lead the Silo AI team under the AMD Artificial Intelligence Group, reporting directly to AMD’s Boppana. The acquisition is expected to close in the second half of 2024.