AMD Acquires Silo AI for $665 Million to Bolster AI Capabilities

The acquisition aims to enhance AMD's AI hardware and software offerings, positioning it to better compete with Nvidia.

AMD will integrate Silo AI's team of AI scientists and engineers into its Artificial Intelligence Group.
The acquisition will allow AMD to offer comprehensive AI solutions, including hardware and software, to enterprise customers.
Silo AI specializes in large language models and has a strong client base including Allianz, Unilever, and Rolls-Royce.
The deal is expected to close in the second half of 2024, pending regulatory approval.
AMD's stock rose nearly 4% following the announcement, reflecting investor confidence in the strategic move.