Sweden's Wallenberg groups launch joint AI company

STOCKHOLM (Reuters) -AstraZeneca, Ericsson, Saab, SEB and Wallenberg Investments will jointly launch an artificial intelligence company to develop advanced AI infrastructure for Swedish companies, Wallenberg said on Friday.

The company, Sferical AI, aims to boost the competitiveness of Swedish industry by offering computing power for AI in an integrated and secure infrastructure, Wallenberg said in a statement.

The announcement follows a partnership launched in May with chip maker Nvidia which will provide its latest generation AI data centre platform to the Swedish companies.

Wallenberg family foundations have major shareholdings in AstraZeneca, Ericsson, Saab and SEB.

(Reporting by Supantha Mukherjee, writing by Terje Solsvik, editing by Anna Ringstrom)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• PM Burnham says UK must be 'bolder' in seeking closer EU ties
• Video appears to show 600 people abducted in Nigeria mosque attack, residents say
• Iran warns vessels violating Hormuz transit rules of fines, detention