AMD plans to acquire Silo AI in $665 million deal

Advanced Micro Devices (AMD) is getting a lift following news of the semiconductor maker’s plans to acquire Finnish artificial intelligence company Silo AI. Josh Lipton and Julie Hyman discuss AMD’s move to further boost its position in the AI landscape.

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This post was written by Luke Carberry Mogan.

Video Transcript

A MD, the stock moving higher after the company announced an agreement to acquire Silo A I and A I lab in Europe all cash deal o value at about $665 million.

Um We do have some instant analysis here, Julie uh Piper’s harsh Kumar, he’s a smart guy, he likes a MD.

He’s got out perform says Silo A I enhances am D’s software expertise with over 100 phd S and 300 employees join the company.

So in part your big brains coming on board or says, yeah, you know, it’s good to have big brains around.

I mean, A MD of course, is seen has been seen as not as um maybe a little behind or at least not as accelerated in the A I race as the likes of an NVIDIA perhaps, but you’re kind of closing the gap a bit, right?

But there’s been a lot of optimism that it would.

And so this looks like uh according to the these analysts that it is a step in the correct direction there.

So and by the way, Silo is some key customers here, I mean, listen, some of these names, uh, Phillips Rolls Royce Unilever, just among others.

And it looks like they’re gonna keep the management team in place at, uh, Silo.

It is based by the way in Helsinki.