AMD acquires Silo AI, Europe's largest private AI lab, for $665M to enhance AI chip capabilities and compete with Nvidia.

AMD has agreed to acquire Silo AI, Europe's largest private AI lab, for $665 million in cash. The deal aims to enhance AMD's AI chip capabilities, allowing it to compete more effectively with industry leader Nvidia. The acquisition is expected to strengthen AMD's software development capabilities and enable potential customers to build complex AI models using the company's chips. Silo AI, based in Helsinki, Finland, specializes in end-to-end AI-driven solutions for integrating AI technology into clients' products and services.

July 10, 2024
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