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AMD expands its reach by acquiring Silo AI, the largest private AI lab in Europe

Posted on by darion

Key conclusions

  • Advanced Micro Devices (AMD) has taken steps to strengthen its position in the artificial intelligence (AI) market with the acquisition of Silo AI.
  • The chipmaker will pay $665 for the largest private artificial intelligence laboratory in Europe, which is located in Finland.
  • AMD said it has invested $125 million in more than a dozen artificial intelligence companies and acquired two other AI companies over the past 12 months.
  • AMD shares rose nearly 4% Wednesday afternoon on the news.

Shares of Advanced Micro Devices (AMD) rose nearly 4% on Wednesday after the chipmaker said it plans to buy Europe’s largest private artificial intelligence (AI) lab to expand its market reach.

AMD paid $665 million in cash to acquire Silo AI, which it said “represents another significant step in the company’s strategy to deliver end-to-end AI solutions based on open standards and in strong partnership with the global AI ecosystem.”

It’s the latest in a series of moves in the AI ​​space for AMD, which said it has invested $125 million in more than a dozen AI-related companies over the past year, as well as acquiring Mipsology and Nod.AI.

AMD says Silo AI acquisition will accelerate AI strategy

The company said Silo AI scientists and engineers have “extensive experience developing customized AI models, platforms, and solutions for leading enterprises spanning the cloud, embedded, and endpoint markets.” AMD added that Silo AI will become part of its Artificial Intelligence Group, and Silo AI co-founder and CEO Peter Sarlin will continue to lead the team.

AMD Artificial Intelligence Group senior vice president Vamsi Boppana said the addition of Silo AI “will further accelerate our AI strategy and accelerate the development and rapid implementation of AI solutions for our global customers.”

The transaction is expected to close before the end of the year.

AMD shares closed 3.9% higher at $183.96 on Wednesday. They have gained nearly a quarter of their value so far in 2024.

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