Peter Sarlin, a co-founder and chief executive of Silo AI, spoke during a panel discussion on technological competition and security at the Kultaranta Talks, an annual series of discussions on foreign and security policy-related topics hosted by the Finnish president, in Helsinki in June 2023. Silo AI on Wednesday announced it will be sold to AMD, an American semiconductor company, for roughly 615 million euros. (Roni Rekomaa – Lehtikuva)

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US CHIPMAKER AMD on Wednesday announced it has signed a definitive agreement to acquire Silo AI, an artificial intelligence start-up founded in Helsinki in 2017.

The all-cash transaction is valued at around 665 million US dollars, or 615 million euros, making it the largest corporate acquisition of the past decade in the artificial intelligence space in Europe, according to the Financial Times.

AMD and Silo AI highlighted in a jointly issued press release that the latter has long scaled its large-language models with the graphics processing units (GPUs) of 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,” stated Peter Sarlin, a co-founder and chief executive of Silo AI.

The Silo AI team, which will continue to be helmed by Sarlin, will be re-organised under the artificial intelligence group of AMD.

Vamsi Boppana, the senior vice president of the group at AMD, said Silo AI will provide the company with expertise and experience that enables it to accelerate its artificial intelligence strategy and advance the build-up and implementation of artificial intelligence solutions for its global clientele.

Domiciled in Helsinki, Silo AI also operates in other parts of Europe and North America, serving a clientele that includes Allianz, Rolls-Royce and Unilever. Last year, it reported an operating loss of 1.3 million euros on 15 million euros in revenue.

The acquisition is expected to be finalised in the second half of this year.

Aleksi Teivainen – HT

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