Silo AI, a private AI lab in Europe that is said to be the largest of its kind in the country, home to world-class AI scientists and engineers with extensive experience developing tailored AI models, platforms, and more, will soon be owned by AMD, according to a press release that the Ryzen, Radeon, and Instinct maker shared today about how it is planning to acquire the company as part of an all-cash transaction valued at approximately $665 million. AMD, which many would regard as NVIDIA’s closest competitor in the business of graphics hardware, says that the deal is expected to close in the second half of this year.
AMD writes:
- “The agreement 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.”
- “The Silo AI team consists of world-class AI scientists and engineers with extensive experience developing tailored AI models, platforms and solutions for leading enterprises spanning cloud, embedded and endpoint computing markets.”
- “Based in Helsinki, Finland, with operations in Europe and North America, Silo AI specializes in end-to-end AI-driven solutions that help customers integrate AI quickly and easily into their products, services and operations.”
- “Silo AI marks the latest in a series of acquisitions and corporate investments to support the AMD AI strategy. AMD has invested over $125 million across a dozen AI companies in the last 12 months and also acquired Mipsology and Nod.ai to expand the AMD AI ecosystem, support partners and advance leadership AMD computing platforms.”
Silo AI echoing the news on X:
As a next step on our journey, Silo AI is excited to announce that we’ve joined forces with @AMD. Silo AI and AMD have an aligned mission to create a global leader that will shape the future of computing. Please find below a link to the press release.https://t.co/WuGOGEzwUY pic.twitter.com/vKfezJnWjQ
— Silo AI (@silo_AI) July 10, 2024
From the company’s About page:
As a trusted AI partner, we commit to building the best products together with our clients. We bring our state-of-the-art AI expertise and proven track record of AI-driven product development to enhance our clients’ capabilities.
We want to build a world with safe human-centric AI that frees the human mind from manual labour, empowering human creativity. Together with our clients, we make this possible by accelerating human-machine co-operation for collective intelligence.