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AMD to Acquire EU’s Largest Private AI Lab, Silo AI, for $665M

By  |  July 12, 2024

Today, AMD announced the signing of a definitive agreement to acquire Silo AI, Europe’s largest private AI lab, in an all-cash transaction valued at approximately $665 million. This acquisition represents a significant milestone in AMD’s strategic plan to provide comprehensive AI solutions based on open standards, bolstering its partnerships within the global AI ecosystem.

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    Silo AI, headquartered in Helsinki, Finland, operates extensively across Europe and North America. The company is renowned for its expertise in delivering end-to-end AI-driven solutions, enabling customers to seamlessly integrate AI into their products, services, and operations. Silo AI’s impressive client portfolio includes industry giants such as Allianz, Philips, Rolls-Royce, and Unilever.

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    Silo AI’s contributions to the AI field include the development of advanced open-source multilingual large language models (LLMs), such as Poro and Viking, which run on AMD platforms. Additionally, the company offers the SiloGen model platform, furthering the capabilities of AI applications.

    “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,” said Peter Sarlin, CEO and co-founder of Silo AI.

    Source: Tech EU