Last Wednesday, July 10, Advanced Micro Devices (AMD), based in California, announced the acquisition of Finnish startup Silo AI, which operates in the artificial intelligence industry.
The deal mentioned above will cost $665 million in cash. AMD is currently seeking to strengthen its ability to participate in the so-called artificial intelligence race, which is currently the main process in the present configuration of technological reality. It’s worth noting that the company lags behind Nvidia, which surpassed $3 trillion in market capitalization last month, in terms of competitiveness. Moreover, Nvidia, which develops graphics processing units necessary for the training and subsequent operation of artificial intelligence systems, is one of the main beneficiaries of the so-called AI boom.
It’s worth noting that elaborating and training large language models is a challenging task even for large technology companies.
The acquisition of Silo AI will help AMD improve the development and deployment of artificial intelligence configurations. The company also expects customers to elaborate complex machine intelligence systems using its chips.
Moreover, the acquisition of Silo AI is expected to strengthen AMD’s software development capabilities.
AMD Senior Vice President of AI, Vamsi Boppana, while talking to the media, said that the specified deal will not have an impact on the company’s financial performance, but will open up a significant amount of business moving forward.
Silo AI, based in Helsinki, specializes in end-to-end artificial intelligence solutions that help clients integrate technology into their products and services. The startup operates in Europe and North America.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
