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AMD announced on July 10 that it will acquire Finnish AI startup Silo AI for $665 million in cash. This move aims to bolster AMD's AI chip capabilities in the face of competition from Nvidia.

The acquisition will enhance AMD's ability to develop and deploy AI models powered by its chips. It will also strengthen the company's software development capabilities. While the deal won't impact AMD's current financial performance, AMD Senior Vice President of AI, Vamsi Boppana, believes it will unlock significant business opportunities in the future.

Silo AI specializes in end-to-end AI solutions, helping clients integrate AI into their products and services. The company boasts a client base that includes Philips, Rolls-Royce, and Unilever. Silo AI's CEO, Peter Sarlin, will continue to lead the unit after the acquisition.

This acquisition is the latest in a series of moves by AMD to expand its presence in the AI landscape. Over the past year, the company has acquired AI software firms Mipsology and Nod.ai and invested over $125 million in a dozen AI companies. The deal is expected to close in the second half of 2024.

Editor：Lulu

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