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AMD shares are rising after the purchase of the artificial intelligence laboratory

July, 11 2024
watermark Economic news

AMD shares increased by more than 3% after the company announced an agreement to purchase Silo AI, the largest independent AI research laboratory in Europe. 


The acquisition of Silo AI serves as a key milestone in AMD's strategy to offer comprehensive AI solutions aligned with generally accepted industry standards.


Wamishi Boppana, senior vice president for AMD's artificial intelligence group, stressed that Silo AI specialists will accelerate the implementation of the company's plans in the field of AI. This will improve the efficiency of development and prompt delivery of AI solutions to customers around the world.


Silo AI CEO and co-founder Peter Sarlin will continue his leadership role in the team, which will become part of the AMD Artificial Intelligence Group division. Sarlin also noted that the merger with AMD is a logical development that unites common efforts to shape the future of computing technologies integrated with artificial intelligence.


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