Advanced Micro Devices, Inc (NASDAQ:AMD) announced its plan to acquire Finnish AI start-up Silo AI for $665 million, marking one of the largest AI takeovers in Europe.
This acquisition aims to bolster AMD’s AI services to compete with market leader Nvidia Corp (NASDAQ:NVDA).
The acquisition of Silo AI, expected to close in the second half of this year pending regulatory approval, will bring Silo’s 300-member team into AMD’s fold to build custom large language models (LLMs), the Financial Times reports.
Vamsi Boppana, senior vice president of AMD’s AI group, emphasized that the deal will ...