What happened

• It was an acqui-hire, not a full company purchase. AMD brought the entire engineering team from Untether AI onboard but did not acquire the company’s chips, intellectual property, or products.
• Untether AI is shutting down. The company confirmed it will no longer supply or support its speedAI hardware or imAIgine SDK.
• Deal terms were not disclosed. Reports suggest the transaction was under 100 million US dollars based on the company’s size.

Why it matters

• AI inference expertise. Untether AI specialized in “at-memory” RISC-V inference chips designed for high energy efficiency. AMD is bringing this engineering talent into its compiler, kernel, SoC design, verification, and product integration teams.
• Boost to AMD’s AI efforts. This follows AMD’s acquisition of compiler startup Brium and supports its push to better compete with Nvidia in AI hardware and software.
• Impact on customers and investors. Untether’s products will no longer be supported. Investors likely won’t recover their full investment, and customers will need to look for alternatives.

Toronto-based startup

Untether AI was founded in 2018 in Toronto and raised about 150 million US dollars from backers including Intel Capital, CPP Investments, Radical Ventures, GM Ventures, and Tracker Capital.

Sources:

TechCrunch – “AMD acqui‑hires the employees behind Untether AI” (June 6, 2025).

Describes the acqui‑hire, confirms Untether AI’s founding in Toronto in 2018, and notes the company had raised over $150 million reddit.com+8techcrunch.com+8tomshardware.com+8.

Benefits and Pensions Monitor – “Untether AI exits as chip talent shifts to AMD in acquihire move” (June 10, 2025).

Reports on Untether AI shutting down, confirms AMD hired the engineering team (deal under $100 M), and notes IP and assets were not part of the deal capacitymedia.com+2benefitsandpensionsmonitor.com+2benefitsandpensionsmonitor.com+2.

EE Times – “Untether AI Shuts Down, Engineering Team Joins AMD” (June 9, 2025).

Confirms shutdown, details that only personnel were acquired (not tech), and discusses the strategic focus of AMD’s AI teams varenyaz.com+8eetimes.com+8linkedin.com+8tomshardware.com+1reddit.com+1.

Capacity Media – “AMD snaps up Untether AI team as energy‑efficient chip startup folds” (June 10, 2025).

Covers the acqui‑hire, emphasizes Untether’s at‑memory RISC‑V architecture, and reiterates loss of product support sg.finance.yahoo.com+5capacitymedia.com+5benefitsandpensionsmonitor.com+5.

Tom’s Hardware – “AMD scoops entire Untether AI chip team — Canada AI inference outfit will cease product support” (June 6, 2025).

Details the hire, includes direct quotes from AMD, and explains the technology and implications benefitsandpensionsmonitor.com+9tomshardware.com+9capacitymedia.com+9.

Yahoo Finance – “AMD acqui‑hires the employees behind Untether AI” (June, 2025).

Echoes TechCrunch’s reporting on the deal and the company’s background benefitsandpensionsmonitor.com+3sg.finance.yahoo.com+3techcrunch.com+3techcrunch.com.

VarenyaZ – “AMD Acqui‑hires Untether AI Employees: A Strategic Move” (June 9, 2025).

Discusses the strategic reasoning behind the acqui‑hire and industry context techcrunch.com+3varenyaz.com+3reddit.com+3.

Reddit thread – “Canadian chip company Untether AI winding down operations” (r/canada).

Community discussion confirming it was an acqui‑hire of staff—not an acquisition of the company itself reddit.com+1benefitsandpensionsmonitor.com+1.