U.S. semiconductor company AMD has acquired a European AI startup to intensify its competition with Nvidia, the leading player in the AI chip market.
On the 10th (local time), AMD announced that it had acquired Finnish AI startup Silo AI for $665 million (about 920.5 billion won).
Silo AI is a startup that develops custom AI models and systems and is recognized as the largest private AI research institute in Europe.
Its major clients include German insurance company Allianz, British multinational company Unilever, and British luxury car manufacturer Rolls-Royce.
Vamsi Boppana, Senior Vice President of AMD, said, "By combining the trusted AI experts of the Silo AI team with AMD's cutting-edge large language model (LLM) development experience, we will accelerate our AI strategy and rapidly build AI solutions for global customers."
After the acquisition, Silo AI will be integrated into AMD's AI organization, with Peter Sarlin, Silo AI's co-founder and CEO, continuing to lead the team.
Bloomberg News reported that "AMD is actively seeking to enter the AI market by speeding up the development of AI-related hardware and software."
It also added, "The acquisition of Silo AI is expected to narrow the gap with Nvidia."
On the day of the acquisition announcement, AMD's stock price on the New York Stock Exchange rose 3.45% from the previous day to $183.21.
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AMD Acquires Silo AI for $665 Million, Strengthens Competition with Nvidia
U.S. semiconductor company AMD has acquired a European AI startup to intensify its competition with Nvidia, the leading player in the AI chip market.On the 10t
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