AMD announced it will acquire Finnish AI startup Silo AI for $665 million in cash, marking a significant step in its strategy to compete with Nvidia in the AI market. Silo AI, Europe's largest private AI lab, specializes in end-to-end AI-driven solutions and has notable clients such as Philips, Rolls-Royce, and Unilever. This acquisition is expected to boost AMD's AI capabilities, particularly in building and deploying large language models. The deal, which is anticipated to close in the second half of 2024, will see Silo AI's co-founder Peter Sarlin continue to lead the unit within AMD. This move follows AMD's recent investments in AI, including the acquisitions of Mipsology and Nod.ai. AMD shares rose nearly 4% following the announcement.