Chipmaker Advanced Micro Devices (AMD) is riding high on news of its plans to acquire Finnish artificial intelligence company Silo AI. Josh Lipton and Julie Hyman discuss AMD's move to further strengthen its position in the AI space.
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This post Luke Carberry Morgan.
Video Transcript
The stock price is rising after the company announced an agreement to acquire Silo AI and European AI Labs in an all-cash transaction worth approximately $665 million, according to MD.
Well, here's the instant analysis: Julie, Piper is tough Kumar. He's a smart guy and likes doctors.
He says Silo AI has added to AM D’s software expertise by bringing more than 100 PhDs and 300 employees to the company.
So in a sense it's good to have your best minds involved, or, you know, have great minds around you.
So, of course, MD has been seen as lagging behind NVIDIA in the AI race, or at least not accelerating as much, but they're closing the gap a little bit, right?
But there is growing optimism that this will happen.
And according to analysts, this appears to be a step in the right direction.
Incidentally, Silo's major clients include Philips, Rolls-Royce and Unilever.
And it looks like Silo's management team will remain in place.
The head office is in Helsinki.
