California-based AMD, a company building products that accelerate next-gen computing experiences, announced that it has signed a definitive agreement to acquire Helsinki’s Silo AI, a private AI lab, for nearly $665M (approximately €613.77M) in an all-cash deal.
This acquisition aligns with AMD’s strategy to provide complete AI solutions based on open standards and global partnerships.
Silo AI claims that its team of AI scientists and engineers have vast experience in developing customised AI models, platforms, and solutions for major enterprises in the cloud, embedded, and endpoint computing markets.
Dr. Pekka Manninen, Director of Science and Technology at CSC-IT Center for Science, Finland, says, “Silo AI has been a pioneer in scaling large language model training on LUMI, Europe’s fastest supercomputer powered by over 12,000 AMD Instinct MI250X GPUs.”
“Together with university collaborators, they have trained state-of-the-art open-source models for EU languages, such as the Nordic Poro and Viking models. We have collaborated extensively with the team in optimising the software layer, allowing for efficient training of AI models on LUMI.”
What does Silo AI offer?
Silo AI, based in Helsinki, Finland, with operations in Europe and North America, specialises in end-to-end AI-driven solutions for integrating AI into products, services, and operations.
The company develops advanced open-source multilingual LLMs like Poro and Viking on AMD platforms, alongside its SiloGen model platform. As one of Europe’s largest private AI laboratories, Silo AI enhances product R&D for smart devices, autonomous vehicles, industry 4.0, and smart cities.
Founded in 2017, Silo AI aims to become a European flagship AI company, with offices in Finland, Sweden, Denmark, and Switzerland. Its clients include Allianz, Philips, Rolls-Royce, and Unilever.
Peter Sarlin, CEO and co-founder of Silo AI, says, “At Silo AI, our mission from the start has been to build an AI flagship company. Today’s announcement is a logical next step in that pursuit as we join forces with AMD to shape the future of AI computing.”
“We have a well-established history of building successful AI products and delivering value to our customers. We look forward to becoming part of AMD to further scale our impact and develop enterprise solutions and AI models that address the most complex challenges with deploying AI at scale today.”
What to expect from this deal?
Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team within the AMD Artificial Intelligence Group, reporting to senior VP Vamsi Boppana. This deal is expected to close in the second half of 2024.
Vamsi Boppana, senior VP of the Artificial Intelligence Group at AMD, says, “Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs.”
“Silo AI’s team of trusted AI experts and proven experience developing leadership AI models and solutions, including state-of-the-art LLMs built on AMD platforms, will further accelerate our AI strategy and advance the build-out and rapid implementation of AI solutions for our global customers.”
Silo AI is the latest in a series of AMD acquisitions and investments to bolster its AI strategy. Over the past year, AMD has invested over $125M in a dozen AI companies and acquired Mipsology and Nod.ai to enhance its AI ecosystem and computing platforms.
Nishant Batra, Chief Strategy and Technology Officer (CSTO), Nokia, says, “As a leading European AI company, Silo AI has been a great long-term partner for us in many AI-related projects. We look forward to the enhanced capabilities the combination of AI technologies and innovative computing solutions from AMD will bring.”
Brief About AMD
Founded in 1969, AMD claims to have been at the forefront of innovation in high-performance computing, graphics, and visualisation technologies. It is committed to using technology to make a positive impact on industries, communities, and the world.
AMD aims to create products that advance next-generation computing in data centers, artificial intelligence, PCs, gaming, and embedded systems. Billions of people, Fortune 500 companies, and scientific research institutions worldwide use AMD technology.
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