AMD (NASDAQ: AMD) today announced the signing of a definitive
agreement to acquire Silo AI, the largest private AI lab in Europe,
in an all-cash transaction valued at approximately $665 million.
The agreement represents another significant step in the company’s
strategy to deliver end-to-end AI solutions based on open standards
and in strong partnership with the global AI ecosystem. The Silo AI
team consists of world-class AI scientists and engineers with
extensive experience developing tailored AI models, platforms and
solutions for leading enterprises spanning cloud, embedded and
endpoint computing markets.
Silo AI CEO and co-founder Peter Sarlin will
continue to lead the Silo AI team as part of the AMD Artificial
Intelligence Group, reporting to AMD senior vice president Vamsi
Boppana. The acquisition is expected to close in the second half of
2024.
“Across every industry, enterprises are looking
for fast and effective ways to develop and deploy AI solutions for
their unique business needs,” said Vamsi Boppana, senior vice
president of the Artificial Intelligence Group at AMD. “Silo AI’s
team of trusted AI experts and proven experience developing
leadership AI models and solutions, including state-of-the-art LLMs
built on AMD platforms, will further accelerate our AI strategy and
advance the build-out and rapid implementation of AI solutions for
our global customers.”
Based in Helsinki, Finland, with operations in
Europe and North America, Silo AI specializes in end-to-end
AI-driven solutions that help customers integrate AI quickly and
easily into their products, services and operations. Their work
spans diverse markets, with customers including Allianz, Philips,
Rolls-Royce and Unilever. Silo AI also creates state-of-the-art
open source multilingual LLMs, such as Poro and Viking, on AMD
platforms in addition to its SiloGen model platform.
“At Silo AI, our mission from the start has been
to build an AI flagship company. Today's announcement is a logical
next step in that pursuit as we join forces with AMD to shape the
future of AI computing,” said Peter Sarlin, CEO and co-founder of
Silo AI. “We have a well-established history of building successful
AI products and delivering value to our customers. We look forward
to becoming part of AMD to further scale our impact and develop
enterprise solutions and AI models that address the most complex
challenges with deploying AI at scale today.”
“As a leading European AI company, Silo AI has
been a great long-term partner for us in many AI-related projects.
We look forward to the enhanced capabilities the combination of AI
technologies and innovative compute solutions from AMD will bring,”
said Nishant Batra, Chief Strategy and Technology Officer (CSTO),
Nokia.
Silo AI marks the latest in a series of
acquisitions and corporate investments to support the AMD AI
strategy. AMD has invested over $125 million across a dozen AI
companies in the last 12 months and also acquired Mipsology and
Nod.ai to expand the AMD AI ecosystem, support partners and advance
leadership AMD computing platforms.
“Silo AI has been a pioneer in scaling large
language model training on LUMI, Europe’s fastest supercomputer
powered by over 12,000 AMD Instinct MI250X GPUs,” said Dr. Pekka
Manninen, Director of Science and Technology at CSC-IT Center for
Science, Finland. “Together with university collaborators, they
have trained state-of-the-art open-source models for EU languages,
such as the Nordic Poro and Viking models. We have collaborated
extensively with the team in optimizing the software layer,
allowing for efficient training of AI models on LUMI.”
“One year ago, Combient partnered with Silo AI,
a leading AI lab with 300 AI scientists and engineers. Together
with Marcus Wallenberg, we initiated Combient in 2015 to accelerate
digitalization and AI adoption for 38 of the largest Nordic
companies, with a total turnover of €270 billion, such as H&M,
IKEA, Saab, KONE and Ericsson,” said Mats Agervi, CEO of Combient.
“Today’s acquisition underscores the capabilities of Silo AI,
opening up expanded opportunities for increased value creation in
Europe and beyond.”
About AMDFor more than 50 years
AMD has driven innovation in high-performance computing, graphics
and visualization technologies. Billions of people, leading Fortune
500 businesses and cutting-edge scientific research institutions
around the world rely on AMD technology daily to improve how they
live, work and play. AMD employees are focused on building
leadership high-performance and adaptive products that push the
boundaries of what is possible. For more information about how AMD
is enabling today and inspiring tomorrow, visit the AMD (NASDAQ:
AMD) website, blog, LinkedIn and X pages.
Cautionary Statement
This press release contains forward-looking
statements concerning Advanced Micro Devices, Inc. (AMD) such as
the expected timing and benefits of AMD’s proposed acquisition of
Silo AI, which are made pursuant to the Safe Harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are commonly identified by words such as
"would," "may," "expects," "believes," "plans," "intends,"
"projects" and other terms with similar meaning. Investors are
cautioned that the forward-looking statements in this press release
are based on current beliefs, assumptions and expectations, speak
only as of the date of this press release and involve risks and
uncertainties that could cause actual results to differ materially
from current expectations. Such statements are subject to certain
known and unknown risks and uncertainties, many of which are
difficult to predict and generally beyond AMD's control, that could
cause actual results and other future events to differ materially
from those expressed in, or implied or projected by, the
forward-looking information and statements. Material factors that
could cause actual results to differ materially from current
expectations include, without limitation, the following: risks
related to the ability of AMD to consummate the proposed
transaction on a timely basis or at all; the satisfaction of the
conditions precedent to consummation of the proposed transaction;
delays in obtaining or adverse conditions contained in regulatory
or other required approvals; the failure of the acquisition to
close for any other reason; the ability to realize the anticipated
benefits of the proposed transaction, including the possibility
that the expected benefits from the proposed transaction will not
be realized or will not be realized within the expected time
period; disruption from the transaction making it more difficult to
maintain business and operational relationships; any negative
effects of the announcement or the consummation of the proposed
transaction on the market price of AMD’s stock price or on AMD’s
operating results; the impact of significant transaction costs and
unknown liabilities on AMD’s operating results; Intel Corporation’s
dominance of the microprocessor market and its aggressive business
practices; cyclical nature of the semiconductor industry; market
conditions of the industries in which AMD products are sold; loss
of a significant customer; competitive markets in which AMD’s
products are sold; economic and market uncertainty; quarterly
and seasonal sales patterns; AMD's ability to adequately protect
its technology or other intellectual property; unfavorable currency
exchange rate fluctuations; ability of third party manufacturers to
manufacture AMD's products on a timely basis in sufficient
quantities and using competitive technologies; availability of
essential equipment, materials, substrates or manufacturing
processes; ability to achieve expected manufacturing yields for
AMD’s products; AMD's ability to introduce products on a timely
basis with expected features and performance levels; AMD's ability
to generate revenue from its semi-custom SoC products; potential
security vulnerabilities; potential security incidents including IT
outages, data loss, data breaches and cyberattacks; uncertainties
involving the ordering and shipment of AMD’s products; AMD’s
reliance on third-party intellectual property to design and
introduce new products in a timely manner; AMD's reliance on
third-party companies for design, manufacture and supply of
motherboards, software, memory and other computer platform
components; AMD's reliance on Microsoft and other software vendors'
support to design and develop software to run on AMD’s products;
AMD’s reliance on third-party distributors and add-in-board
partners; impact of modification or interruption of AMD’s internal
business processes and information systems; compatibility of AMD’s
products with some or all industry-standard software and hardware;
costs related to defective products; efficiency of AMD's supply
chain; AMD's ability to rely on third party supply-chain logistics
functions; AMD’s ability to effectively control sales of its
products on the gray market; long-term impact of climate change on
AMD’s business; impact of government actions and regulations such
as export regulations, tariffs and trade protection measures; AMD’s
ability to realize its deferred tax assets; potential tax
liabilities; current and future claims and litigation; impact of
environmental laws, conflict minerals-related provisions and other
laws or regulations; evolving expectations from governments,
investors, customers and other stakeholders regarding corporate
responsibility matters; issues related to the responsible use of
AI; restrictions imposed by agreements governing AMD’s notes, the
guarantees of Xilinx’s notes and the revolving credit facility;
impact of acquisitions, joint ventures and/or investments on AMD’s
business and AMD’s ability to integrate acquired businesses; impact
of any impairment of the combined company’s assets; political,
legal and economic risks and natural disasters; future impairments
of technology license purchases; AMD’s ability to attract and
retain qualified personnel; and AMD’s stock price volatility.
Investors are urged to review in detail the risks and uncertainties
in AMD’s Securities and Exchange Commission filings, including but
not limited to AMD’s most recent reports on Forms 10-K and
10-Q.
Contact:Brandi
MartinaAMD Corporate Communications(512) 705-1720
brandi.martina@amd.com
Suresh BhaskaranAMD Investor
Relations+1 408-749-2845Suresh.Bhaskaran@amd.com
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