Advanced Micro Devices acquired Silo AI for Approximately $665 million, a transaction completed in August 2024, structured as All cash.
Silo AI operates in AI (Artificial Intelligence Group), is based in Helsinki, Finland (operations across Europe and North America). AMD acquired Silo AI, described as the largest private AI lab in Europe, in an all-cash deal of about $665 million to expand its enterprise-AI capabilities. Announced July 10, 2024 and completed August 12, 2024, Silo AI brought AI scientists and engineers who build tailored AI models and solutions — including open-source multilingual LLMs Poro and Viking trained on AMD Instinct accelerators — for enterprises such as Allianz, Philips, Rolls-Royce and Unilever.
To deliver end-to-end AI solutions based on open standards and accelerate development and deployment of AMD-powered AI models and software for global enterprise customers.
Europe's largest private AI lab; world-class AI scientists; blue-chip enterprise customer base; LLMs already trained on AMD Instinct AMD Artificial Intelligence Group (AIG), under SVP Vamsi Boppana
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.Vamsi Boppana, Senior Vice President, Artificial Intelligence Group, AMD
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.Peter Sarlin, CEO and co-founder, Silo AI
Advisory firms were not disclosed for this transaction.