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Advanced Micro Devices (AMD) announced its acquisition of Finnish artificial intelligence startup Silo AI for $665 million in cash to strengthen its AI chip capabilities and compete with industry leader Nvidia. The move reflects AMD's strategic focus on advancing in the AI sector and expanding its technological offerings. This acquisition is expected to propel AMD into a more competitive position in the rapidly evolving AI market.
The acquisition of Silo AI aligns with AMD's goal of enhancing its AI processing technology to drive innovation across various industries such as retail, finance, and automotive. By integrating Silo AI's expertise and technology, AMD aims to accelerate the development and deployment of AI models, catering to the increasing demand for advanced computing power. This strategic move underscores AMD's commitment to staying at the forefront of AI advancements and meeting the evolving needs of businesses worldwide.
Reuters on MSN.com 15month
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