US chip giant AMD to buy European LLM leader Silo AI for $665M

Posted under: Fintech
Date: 2024-07-12
US chip giant AMD to buy European LLM leader Silo AI for $665M

US chipmaker AMD has agreed a $665mn (€614mn) deal to buy Finnish startup Silo AI, one of Europe’s leading artificial intelligence firms. AMD announced the all-cash transaction on Wednesday. The Californian company described the acquisition as “a significant step” towards delivering end-to-end AI solutions. It will also give AMD new tools to compete with Nvidia’s high-performance chips. Silo describes itself as “Europe’s largest private AI lab.

Read more at: thenextweb.com