Sweden's Wallenberg Companies Unite to Launch AI Joint Venture

Wallenberg companies in Sweden, including AstraZeneca, Ericsson, Saab, SEB, and Wallenberg Investments, are launching a joint AI company called Sferical AI. The company aims to boost Swedish industry competitiveness by offering computing power for AI in an integrated and secure infrastructure. This follows a partnership with chip maker Nvidia, which will provide its latest AI data centre platform to the Swedish companies. Wallenberg family foundations have significant shareholdings in these companies.

Swedish industry leaders, including AstraZeneca, Ericsson, Saab, SEB, and Wallenberg Investments, have announced the launch of Sferical AI, a joint venture aimed at enhancing Sweden's artificial intelligence (AI) infrastructure and competitiveness. The initiative, led by Wallenberg family foundations, positions the participating companies at the forefront of the AI-driven transformation of the business landscape [1].

Sferical AI's primary objective is to provide computing power for AI in an integrated, sovereign, and secure infrastructure. This venture, which includes a partnership with Nvidia, will leverage the latest AI data center platform from the chip maker. The AI supercomputer, to be located in Linkoping, will be a cornerstone of Sferical AI's operations [1].

The leadership of Sferical AI will be helmed by Jenny Nordlow as Chief Executive Officer and Anders Ynnerman as Executive Chairman, both from Wallenberg Investments [1]. The company's vision is to strengthen Sweden's AI capabilities and industrial competitiveness, potentially leading to innovations across various sectors including pharmaceuticals, telecommunications, defense, and finance [1].

In addition to providing the technological infrastructure for Sferical AI, Nvidia has announced plans to establish an AI technology center in Sweden. This center will work closely with the participating companies to tailor AI systems and develop new applications, with long-term plans to support the broader Swedish business community [1].

The launch of Sferical AI marks a significant step forward in Sweden's AI capabilities and underscores the growing importance of AI in driving industrial competitiveness and economic growth. As the venture develops, it may serve as a model for other countries looking to boost their AI capabilities through public-private partnerships and strategic investments in technology infrastructure [1].

References:
[1] https://theoutpost.ai/news-story/swedish-industry-giants-unite-to-launch-sferical-ai-boosting-national-ai-infrastructure-19427/
[2] https://www.marketscreener.com/news/nvidia-introduces-spectrum-xgs-ethernet-to-connect-distributed-data-centers-into-giga-scale-ai-super-ce7c50dbd88df226