Advanced Micro Devices (AMD), a US-based company, is strategically planning to acquire Silo AI, a Finnish artificial intelligence startup. With a deal of approximately $665 million, the aim is to enhance AMD’s AI capabilities to compete effectively with market leader Nvidia.
The acquisition is a demonstration of AMD’s commitment to AI and a sign of its strategies to secure a more competitive position. Silo AI’s team, is expected to develop custom large language models (LLMs) crucial to AI-driven chatbots.
A leading Nordic AI, Silo AI, will be a valuable addition to the development efforts, honing functionality and efficiency of AI tech. Vamsi Boppana, Senior Vice President of AMD’s AI group, sees the acquisition as an avenue to expedite customer engagements.
This record represents the largest acquisition of a privately-owned AI startup in Europe, surpassing Google’s acquisition of DeepMind in 2014.
AMD’s strategic acquisition of Silo AI
Unlike Google’s acquisition, this is more product-oriented, positioning AMD as a significant player in the industry.
Silo AI, one of Europe’s largest private AI labs, has been working on LLMs in multiple European languages. They fuse cutting-edge technology with business acumen to deliver state-of-the-art solutions.
Silo AI views the acquisition as the next logical move towards becoming a global AI leader. This flexibility enables the company to offer personalized solutions tailored to specific client needs, striving for transparency and accessibility in AI.
Finally, AMD anticipates that this acquisition will bolster its strategic growth, bringing its AI software closer to practical applicability. This remarkable move is indicative of AMD’s resolution to remain an industry leader while continually improving its product offerings.
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