AMD Expands Its Reach by Buying Silo AI, Europe's Largest Private AI Lab

Shares of Advanced Micro Devices (AMD) roseate astir 4% Wednesday aft nan chipmaker said it is buying nan largest backstage artificial intelligence (AI) laboratory successful Europe to grow its scope successful nan market.

AMD is paying $665 cardinal successful rate to acquisition Silo AI, which it said “represents different important measurement successful nan company’s strategy to present end-to-end AI solutions based connected unfastened standards and successful beardown business pinch nan world AI ecosystem.”

It’s nan latest successful a bid of caller AI moves for AMD, which said it has invested $125 cardinal successful a twelve AI-related companies successful nan past year, and besides acquired Mipsology and Nod.AI.

AMD Says Silo AI Purchase Will Accelerate AI Strategy

The institution said that Silo AI’s scientists and engineers person “extensive acquisition processing tailored AI models, platforms and solutions for starring enterprises spanning cloud, embedded, and endpoint computing markets.” AMD added that Silo AI will go portion of its Artificial Intelligence Group, pinch Silo AI co-founder and CEO Peter Sarlin continuing to lead nan team.

Senior Vice President of nan AMD Artificial Intelligence Group Vamsi Boppana said that adding Silo AI “will further accelerate our AI strategy and beforehand nan build-out and accelerated implementation of AI solutions for our world customers.”

The transaction is expected to adjacent earlier nan extremity of nan year. 

AMD shares closed 3.9% higher astatine $183.96 Wednesday. They've gained astir one-quarter of their worth truthful acold successful 2024.