Altor divests Silo AI

In June 2022 Altor invested and partnered with Silo AI, a private AI lab based out of Helsinki, Finland. The ambition was to build a leading European AI flagship.

Yesterday AMD (NASDAQ: AMD) announced the signing of a definitive agreement to acquire Silo AI, which now has become the largest private AI lab in Europe, in an all-cash transaction valued at $665 million. The Silo AI team consists of world-class AI scientists and engineers with extensive experience developing tailored AI models, platforms and solutions for leading enterprises spanning cloud, embedded and endpoint computing markets.

Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team as part of the AMD Artificial Intelligence Group. The acquisition is expected to close in the second half of 2024.

“We are really proud of the partnership with Silo AI and it is astonishing what they have been able to accomplish during the past years,” said Mattias Holmström, Partner and head of the Tech Sector at Altor. “This combination is a testament to the great franchise that Peter, Tero and the rest of the Silo AI team and board have built. We think AMD is an excellent new owner and we wish them the best on their future endeavours” said Stian Tuv, Principal at Altor.

At Silo AI, our mission from the start has been to build an AI flagship company. Today's announcement is a logical next step in that pursuit as we join forces with AMD to shape the future of AI computing,” said Peter Sarlin, CEO and co-founder of Silo AI. “Since we partnered with Altor in 2022, we have reached many milestones and succeeded in building Silo AI into a leading European AI flagship. We have had a fantastic journey with Altor and now we look forward to further scale our impact and reach new heights”

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Trioworld, OX2, Carnegie, Kaefer, FLSmidth, Rossignol and Toteme.

For more information visit www.altor.com

About Silo AI

Silo AI is Europe’s largest private AI lab on a mission to ensure Europe has a flagship AI company. We’re a trusted AI partner that brings competitive advantage to product R&D. We build AI-driven solutions and products to enable smart devices, autonomous vehicles, industry 4.0, and smart cities. Silo AI provides its customers unique access to world-class AI models and expertise, as well as the SiloGen model-as-a-service platform. As part of SiloGen, Silo AI is currently building market leading open source LLMst to ensure European digital sovereignty and democratize access to LLMs.

For more information visit www.silo.ai

About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website www.amd.com

For media enquiries, please contact:

Karin Åström, Head of Communications, Altor Equity Partners

Email: karin.astrom@altor.com

Telephone: +46 707 64 86 5