AMD to Buy AI Lab Silo in Race Against Nvidia
Finnish firm helps companies develop and deploy AI models.
AMD is building up a portfolio of services to help customers.
Tweet on AMD’s agreement to buy Silo AI
Advanced Micro Devices Inc. has agreed to buy Silo AI for $665 million in cash, Bloomberg reports#amd #ai #chips #clouds https://t.co/XjDoWF69FC
— The_Journalbiz (@the_journalbiz) August 21, 2024
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AMD is seen as Nvidia’s closest potential competitor in the market for hardware used to develop new software and services powered by AI.
Advanced Micro Devices Inc. has agreed to buy Silo AI for $665 million in cash, adding a maker of artificial intelligence models that will help its push to close the gap on Nvidia Corp.
The US chipmaker is acquiring the Helsinki-based company, which describes itself as Europe’s largest private AI lab and has customers that include Allianz SE, Unilever Plc and Bayerische Motoren Werke AG unit Rolls-Royce, it said in a statement on Wednesday. Co-founder and Chief Executive Officer Peter Sarlin will continue to lead his team, which will become part of AMD’s Artificial Intelligence Group.
Shares of AMD rose 1.4% at 9:43 a.m. in New York.
