July 11, 2024 /SemiMedia/ -- AMD recently announced that it will acquire Finnish artificial intelligence (AI) startup Silo AI for $665 million to expand its AI services.

Silo AI, based in Helsinki, Finland, is one of Europe's largest private AI labs, providing tailor-made AI models and platforms for corporate clients. Silo AI is committed to open-source AI models, which are freely available and can be customized by anyone. This is different from companies such as OpenAI and Google, which tend to be proprietary or closed source.

AMD said that Silo AI's 300 members will use its software tools to build custom large language models (LLMs). The all-cash acquisition is expected to be completed in the second half of this year, but it still needs regulatory approval.

Vamsi Boppana, senior vice president of AMD's Artificial Intelligence Business Group, said the deal will help the company speed up its engagement and deployment with customers and accelerate its own AI technology.

The deal with Silo shows how AMD is looking to quickly scale its business and drive customer engagement with its own products.