A US company buys the Finnish artificial intelligence company Silo AI – transaction amount 665 million dollars

The American semiconductor manufacturer AMD has said that it has agreed on a deal in which it will buy the entire stock of the Finnish artificial intelligence company Silo AI.

American semiconductor manufacturer AMD announced that it has made a purchase of the Finnish artificial intelligence company Silo AI.

The transaction amount is said to be 665 million US dollars, i.e. around 614 million euros. The purchase amount is paid in cash.

Silo AI has been using AMD’s semiconductor technology for a long time to develop its large language models, the companies say in their press release.

Founder and CEO of SIlo AI Peter Sarlin continues to lead the Silo AI team as part of AMD’s artificial intelligence division.

The deal is estimated to be completed in the second half of 2024.

The news is updated.

By Editor

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