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AMD wants to acquire Finnish startup Silo AI for $665 million – IT Pro – News

AMD has entered into an agreement to acquire Finnish startup Silo AI, the company announced Wednesday. Through the acquisition, the chipmaker wants to make it easier for companies to develop and run AI models on AMD hardware.

The acquisition includes $665 million, AMD confirmsThe acquisition is expected to close later this year, though it still needs to be approved by competition regulators. Following the acquisition, Silo AI CEO Peter Sarlin will continue to lead his 300-person team, but as part of AMD’s AI business group.

Silo AI is Europe’s largest private AI lab, AMD wrote on Wednesday. The acquisition is supposed to help the chipmaker develop and deploy AI models. It’s also supposed to help AMD customers run AI models on the company’s chips. Silo AI currently works with companies including Allianz, Philips, Rolls-Royce and Unilever.

AMD has been expanding its software team through acquisitions for some time. The chipmaker already acquired French AI startup Mipsology last year. The company also completed its acquisition of in October.

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