US Chip Giant AMD to Acquire European LLM Leader Silo AI for $665M

The tech industry has witnessed a significant development as US chipmaker AMD has agreed to acquire Finnish startup Silo AI, one of Europe’s leading artificial intelligence firms, in an all-cash deal worth $665 million.

This acquisition is seen as a strategic move by AMD to deliver end-to-end AI solutions and counter the dominance of Nvidia in the AI semiconductor market.

Silo AI, which describes itself as ‘Europe’s largest private AI lab,’ is known for building large language models (LLMs), particularly for low-resource languages. In May, the company launched an LLM that covers Danish, Finnish, Icelandic, Norwegian, and Swedish, as well as English and programming languages.

Peter Sarlin, Silo AI’s CEO, stated that the company’s goal is to build LLMs for every EU language. With this acquisition, AMD aims to leverage Silo’s expertise in AI to strengthen its position in the market.

The deal marks one of the largest-ever purchases of a European AI startup and is expected to close in the second half of this year, subject to regulatory approval.

The acquisition is a significant step towards delivering end-to-end AI solutions.

The acquisition is seen as a key addition to AMD’s portfolio, enabling the company to accelerate its AI strategy and advance the build-out of AI solutions for its global customers.

Vamsi Boppana, AMD’s senior vice president for artificial intelligence, stated that Silo AI’s team of trusted AI experts and proven experience in developing leadership AI models and solutions will further accelerate AMD’s AI strategy.

With this acquisition, AMD is poised to become a significant player in the AI market, competing with the likes of Nvidia and other industry leaders.

The Silo AI team will build LLMs on AMD platforms.

The acquisition is a testament to the growing importance of AI in the tech industry, and AMD’s commitment to delivering innovative AI solutions to its customers.

The acquisition will enable AMD to develop more advanced AI models.

As the AI landscape continues to evolve, this acquisition is likely to have a significant impact on the industry, shaping the future of AI computing and beyond.