Advanced Micro Devices (AMD) recently announced that it has signed a definitive agreement to acquire Silo AI, Europe’s largest private AI lab, in an all-cash transaction valued at approximately $665 million. The acquisition is expected to close in the second half of 2024, subject to regulatory approvals.
The deal aims to accelerate AMD’s development and deployment of AI models and software solutions, enhancing its open-source AI software capabilities for efficient training and inference on AMD compute platforms.
Silo AI, based in Helsinki, Finland, brings a team of world-class AI scientists and engineers with extensive experience in developing tailored AI models, platforms, and solutions for leading enterprises across cloud, embedded, and endpoint computing markets.
“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,” said Vamsi Boppana, senior vice president of the AMD Artificial Intelligence Group.
Peter Sarlin, CEO and co-founder of Silo AI, will continue to lead the team as part of AMD’s Artificial Intelligence Group, reporting to Boppana.
“We are excited to join forces with AMD to shape the future of AI computing,” said Peter Sarlin. “This acquisition is a logical step in our mission to build a flagship AI company, allowing us to scale our impact and develop enterprise solutions that address complex AI deployment challenges.”
Silo AI specialises in end-to-end AI-driven solutions, serving customers such as Allianz, Philips, Rolls-Royce, and Unilever. The company has also created open-source multilingual large language models (LLMs) like Poro and Viking on AMD platforms.
This acquisition marks AMD’s latest move in expanding its AI ecosystem, following investments of over $125 million across a dozen AI companies in the last 12 months, including the acquisitions of Mipsology and Nod.ai. The strategy aims to deliver end-to-end AI solutions based on open standards in partnership with the global AI ecosystem.
Silo AI has been instrumental in scaling large language model training on LUMI, Europe’s fastest supercomputer powered by AMD Instinct MI250X GPUs. The company has also partnered with Combient, a network of 38 large Nordic companies, to accelerate AI adoption across various industries.
