Acquired Silo AI, Technically, AMD Will See More Rebounds?
Big News for $Advanced Micro Devices(AMD)$ :
AMD has completed the acquisition of Silo AI, the largest private artificial intelligence lab in Europe, in an all-cash transaction valued at approximately $665 million. This acquisition strengthens AMD's commitment to delivering end-to-end artificial intelligence solutions based on open standards and establishes a robust partnership with the global AI ecosystem. Silo AI brings to AMD a world-class team of AI scientists and engineers experienced in developing cutting-edge AI models, platforms, and solutions for large enterprise customers, including Allianz, Philips, Rolls-Royce, and Unilever. The Silo AI team will join the AMD Artificial Intelligence Group (AIG), led by AMD Senior Vice President Vamsi Boppana.
Image
Silo AI is renowned for its end-to-end AI solutions that help customers quickly and easily integrate AI into their products, services, and operations. They have also created state-of-the-art open-source multilingual large language models (LLMs), including Poro and Viking, which operate on AMD platforms, in addition to their SiloGen model platform.
Through this acquisition, AMD gains not only the expertise of the Silo AI team but also their innovative achievements in the field of AI, including pioneering work in training large language models on LUMI — the fastest supercomputer in Europe, powered by over 12,000 AMD Instinct MI250X GPUs.
Furthermore, Peter Sarlin, CEO and co-founder of Silo AI, will continue to lead the Silo AI team as part of the AMD Artificial Intelligence Group, reporting to AMD Senior Vice President Vamsi Boppana. The acquisition is expected to be completed in the second half of 2024.
This acquisition marks the latest step in a series of acquisitions and corporate investments by AMD to support its AI strategy. Over the past 12 months, AMD has invested over $125 million in more than a dozen AI companies and has acquired Mipsology and Nod.ai to expand the AMD AI ecosystem, support partners, and advance the leadership position of AMD computing platforms.
Technically speaking,
According to @Elliottwave_Forecast , $Advanced Micro Devices(AMD)$ last week was favored upside in ((a)) of 2 and remain choppy to higher, while dips remain above 115.64 low.
Image
@Jake_Wujastyk just mentioned on X platform that $Advanced Micro Devices(AMD)$ A pretty epic volume shelf setup on the daily candle chart.
Image
How do you think of the $Advanced Micro Devices(AMD)$’s potential?
What’s your trade plan?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
