AMD has announced that it has signed a definitive agreement to acquire Silo AI, a Finnish company billed as Europe's largest private AI lab, in an all-cash transaction worth around $665 million.

'The agreement represents another important 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,' explains the chipmaker.

Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team within AMD Artificial Intelligence, reporting to AMD senior vice president Vamsi Boppana. The acquisition is expected to close in the second half of 2024.

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