AMD Acquires Finnish AI Startup Silo AI for $665M to Challenge Nvidia
Advanced Micro Devices (AMD) is set to acquire Finnish AI startup Silo AI for $665 million in cash. The acquisition aims to bolster AMD's AI chip capabilities to better compete with industry leader Nvidia. Silo AI specializes in end-to-end AI-driven solutions, which will aid AMD in enhancing the development and deployment of its AI models, helping potential customers build complex AI systems using AMD's chips. The deal is anticipated to close in the second half of 2024.
This acquisition aligns with AMD's ongoing strategy to expand in the AI sector, following its previous acquisitions of AI software firms Mipsology and Nod.ai. AMD has invested over $125 million across a dozen AI companies in the past year. According to Vamsi Boppana, AMD Senior Vice President of AI, while the acquisition will not immediately impact AMD's financial results, it is expected to unlock significant business opportunities moving forward.
