AMD to acquire AI startup to keep up with NVIDIA

AMD's all-cash acquisition of the AI startup is the biggest of its kind in Europe in 10 years. #amd #ai #nvidia #siloai


AMD is acquiring a Finnish AI startup to keep pace with rival NVIDIA, which has been dominating the space for a while. According to Financial Times, AMD will acquire the Finnish AI startup Silo AI in an all-cash deal valued at US$665 million (~S$896 million) . The acquisition is slated to complete in the second half of this year.

It is stated to be the biggest acquisition in Europe in 10 years since Google's purchase of DeepMind in 2014 for around US$625 million. As one of the biggest private AI labs in Europe, Silo AI develops custom AI models and platforms for enterprise clients. The AI startup believes in "open source" AI models, which is different from the "closed" model approach taken by OpenAI and Google.

Following the completion of the acquisition, Silo AI is set to build large language models (LLMs) to help AMD speed up customer engagements and deployments, as well as expedite AMD's own AI tech stack. Source: Financial Times.