AMD has signed a definitive agreement to acquire Silo AI for $665 million in cash. Silo AI specializes in the integration of AI capabilities into solutions used by businesses, and its takeover will help AMD to significantly boost its AI capabilities and deliver end-to-end AI solutions comprising AI models, software, and hardware, for big customers. The deal is anticipated to be finalized in the latter half of 2024.
Silo AI is renowned for its team of AI scientists and engineers who specialize in creating customized AI models and solutions, and their expertise spans various sectors, including cloud computing and embedded systems. The company has been instrumental in helping customers like Allianz, Philips, Rolls-Royce, and Unilever to quickly integrate AI solutions designed to meet the unique needs of each enterprise into their products and services that cover a wide array of markets. The company is also known for developing open-source multilingual large language models (LLMs) like Poro and Viking.
Also, Silo AI has collaborated with institutions to optimize AI model training on LUMI, Europe's fastest supercomputer, which is powered by over 12,000 AMD Instinct MI250X GPUs. This collaboration has resulted in the development of advanced open-source models for European languages.
The acquisition of Silo AI is a strategic move for AMD as it immediately enhances its AI capabilities and accelerates its AI strategy as with an experienced team it will be easier for the company to land customers in the enterprise space. Essentially, it will now be able to offer not only hardware, but also software for enterprise customers, which is a good way to compete against Nvidia.
"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," said Peter Sarlin, CEO and co-founder of Silo AI. "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."
Silo AI's CEO and co-founder, Peter Sarlin, will remain at the helm of the Silo AI team within the AMD Artificial Intelligence Group led by AMD's senior vice president, Vamsi Boppana.
Over the past year, AMD has invested over $125 million in a dozen AI companies and acquired Mipsology and Nod.ai to expand its AI ecosystem and support its partners.
"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," said Vamsi Boppana, senior vice president of the Artificial Intelligence Group at AMD.
