AMD to Acquire Silo AI for $665 Million

AMD (NASDAQ: AMD) has announced a definitive agreement to acquire Silo AI in an all-cash transaction valued at approximately $665 million. This strategic move aligns with AMD’s mission to deliver comprehensive AI solutions based on open standards in partnership with the global AI ecosystem. The acquisition is expected to finalize in the second half of 2024.

Silo AI, based in Helsinki, Finland, with operations in Europe and North America, specializes in end-to-end AI-driven solutions. Their expertise spans various markets, providing tailored AI models and solutions for leading enterprises, including Allianz, Philips, Rolls-Royce, and Unilever. Silo AI’s state-of-the-art open-source multilingual LLMs, such as Poro and Viking, are built on AMD platforms, further enhancing AMD’s AI strategy.

“Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs,” said Vamsi Boppana, Senior Vice President of the Artificial Intelligence Group at AMD. “Silo AI’s team of trusted AI experts and proven experience will accelerate our AI strategy and advance the rapid implementation of AI solutions for our global customers.”

Peter Sarlin, CEO and Co-founder of Silo AI, added, “At Silo AI, our mission from the start has been to build an AI flagship company. Today’s announcement is a logical next step in that pursuit as we join forces with AMD to shape the future of AI computing.”

Silo AI has been a long-term partner for several prominent companies in AI-related projects. Nishant Batra, Chief Strategy and Technology Officer (CSTO) at Nokia, commented, “As a leading European AI company, Silo AI has been a great long-term partner for us in many AI-related projects. We look forward to the enhanced capabilities the combination of AI technologies and innovative compute solutions from AMD will bring.”

AMD has been actively expanding its AI ecosystem, investing over $125 million across a dozen AI companies in the last year. The acquisition of Silo AI follows other significant investments, including Mipsology and Nod.ai, aimed at supporting partners and advancing leadership in AMD computing platforms.

Silo AI has made significant strides in scaling large language model training on LUMI, Europe’s fastest supercomputer, powered by over 12,000 AMD Instinct MI250X GPUs. Dr. Pekka Manninen, Director of Science and Technology at CSC-IT Center for Science, Finland, highlighted their collaboration, stating, “Together with university collaborators, they have trained state-of-the-art open-source models for EU languages, such as the Nordic Poro and Viking models. We have collaborated extensively with the team in optimizing the software layer, allowing for efficient training of AI models on LUMI.”