AMD to Buy European AI Lab Silo in Race Against Nvidia
- Finnish firm helps companies develop and deploy AI models
- AMD is building up a portfolio of services to help customers
AMD is seen as Nvidia’s closest potential competitor in the market for hardware used to develop new software and services powered by AI.
Photographer: David Paul Morris/BloombergAdvanced Micro Devices Inc. has agreed to buy Silo AI for $665 million in cash, adding a maker of artificial intelligence models that will help its push to close the gap on Nvidia Corp.
The US chipmaker is acquiring the Helsinki-based company, which describes itself as Europe’s largest private AI lab and has customers that include Allianz SE, Unilever Plc and Bayerische Motoren Werke AG unit Rolls-Royce, it said in a statement on Wednesday. Co-founder and Chief Executive Officer Peter Sarlin will continue to lead his team, which will become part of AMD’s Artificial Intelligence Group.