In bid to loosen Nvidia’s grip on AI, AMD to buy Finnish startup for $665M

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The acquisition is the largest of its kind in Europe in a decade.

The all-cash acquisition is expected to close in the second half of this year, subject to regulatory approval.“This agreement helps us both accelerate our customer engagements and deployments while also helping us accelerate our own AI tech stack,” Vamsi Boppana, senior vice president of AMD’s artificial intelligence group, told the Financial Times.

California-based AMD said Silo’s 300-member team would use its software tools to build custom large language models (LLMs), the kind of AI technology that underpins chatbots such as OpenAI’s ChatGPT and Google’s Gemini.

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Article Details

Author / Journalist: Financial Times

Category: Technology

Markets: United StatesIceland

Topics: AI NVIDIA AMD Syndication Nvidia ai

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-10 @ 17:19:47 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: arstechnica.com

Language: English

Article Length: 125 words

Reading Time: 1 minutes read

Sentences: 33 lines

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Copyright Owner: © Ars Technica

News ID: 21568053

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