Forbes July 11, 2024
AMD is acquiring Finnish AI startup Silo AI for $665 M. Silo AI is Europe’s largest private AI lab, with clients like Allianz, Unilever, and Rolls-Royce. CEO Peter Sarlin will continue leading his team within AMD’s AI Group. This acquisition aims to enhance AMD’s AI model and software development, positioning it as a stronger competitor to Nvidia in the AI hardware market. AMD, under CEO Lisa Su, is expanding its AI offerings with the MI300 accelerators, projecting $4 billion in revenue this year. Despite trailing Nvidia and the semiconductor index in stock gains, AMD’s market cap is near an all-time high at $286 billion. The move is part of AMD’s strategy to capture a larger share of the AI hardware...
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