Advanced Micro Devices Inc (NASDAQ:AMD) announced on July 10, 2024 that it has signed an agreement to acquire Silo AI for $665 million. Silo AI is the largest privately held artificial intelligence development lab in Europe. This agreement represents another significant step for AMD in the area of end-to-end AI solutions. The Silo AI team consists of top AI scientists and engineers with extensive experience developing customized AI models, platforms and solutions for leading enterprises spanning the cloud, embedded and endpoint markets.
A year ago, among other things, Silo AI merged with Combient. Combient Corp. is the world’s leading AI lab with 300 AI scientists and engineers. Combient CEO Mats Agervi said. Today’s acquisition underscores Silo’s AI capabilities and opens up expanded opportunities for increased value creation in Europe and beyond.”
AMD is also gaining 33% of the global server CPU market and preparing for a major launch of new processors. Among other things, the company is also partnering with Microsoft Corp (NASDAQ:MSFT), which uses AMD processors and servers in its data centers, such as the Azure cloud. The two companies have a long history of collaborating on graphics processing units (GPUs) for smartphones and high-bandwidth memory (HBM) chips, which are key to artificial intelligence devices. These facts have attracted the attention of multinational investment corporations and private investors to buy shares of Advanced Micro Devices Inc (NASDAQ:AMD), for which an average target price of $191.90 per share has been set for the short to medium term investment horizon.
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