AMD: Agreement to acquire Silo AI
(CercleFinance.com) - AMD announced that it has signed a definitive agreement to acquire Silo AI, a Finnish company touted as the largest private AI lab in Europe, in an all-cash transaction worth approximately $665m.
The deal represents another important step in the company's strategy to deliver end-to-end AI solutions based on open standards and in strong partnership with the global AI ecosystem, the chipmaker says.
Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team within AMD Artificial Intelligence, reporting to AMD senior vice president Vamsi Boppana. The acquisition is expected to close in H2 2024.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The deal represents another important step in the company's strategy to deliver end-to-end AI solutions based on open standards and in strong partnership with the global AI ecosystem, the chipmaker says.
Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team within AMD Artificial Intelligence, reporting to AMD senior vice president Vamsi Boppana. The acquisition is expected to close in H2 2024.
Copyright (c) 2024 CercleFinance.com. All rights reserved.