FX.co ★ AMD To Acquire Silo AI For $665 Mln Cash Deal; Stock Rises

Advanced Micro Devices, Inc. (AMD) announced on Wednesday the signing of a definitive agreement to acquire Silo AI, a private AI lab based in Helsinki, Finland, for $665 million in cash.

AMD anticipates that this acquisition will bolster the development and deployment of AI models and software solutions powered by AMD technology. The transaction is slated for completion in the latter half of 2024.

As of now, AMD's stock is up by 3.32 percent, trading at $182.91 on the Nasdaq.