AMD Acquires European AI Startup... Narrowing the Gap with Nvidia

[Image source=Reuters Yonhap News]

U.S. semiconductor company AMD is accelerating its pursuit of Nvidia by acquiring a European artificial intelligence (AI) startup.

According to Bloomberg on the 10th (local time), AMD has decided to acquire Finnish AI startup 'Silo AI' for $665 million (approximately 920 billion KRW).

Silo AI is one of the largest private AI research institutes in Europe. It is known as a startup that creates AI models and systems tailored to the needs of individual companies. Its clients include German insurance company Allianz, British multinational Unilever, and British luxury car manufacturer Rolls-Royce.

Silo AI will become part of AMD's AI organization. Peter Salin, co-founder and CEO of Silo AI, will continue to lead the team.

AMD Senior Vice President Vamsi Boppana said, "By combining the trusted AI experts of the Silo AI team with our experience in developing market-leading AI models and solutions such as cutting-edge large language models (LLM), we will further accelerate AMD's AI strategy and build AI solutions for global customers."

Bloomberg analyzed that AMD's acquisition of Silo AI could help narrow the gap with Nvidia in the AI chip competition. AMD is rapidly developing AI-related hardware and software to enter the AI market.

On the same day, AMD's stock closed at $183.96, up 3.87% from the previous trading day on the New York Stock Exchange. While Nvidia's stock price surged about 180% this year, AMD's stock price rose only about 33% during the same period.

This content was produced with the assistance of AI translation services.