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Sweden's Wallenberg groups launch joint AI company
Published by Global Banking & Finance Review®
Posted on August 22, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 22, 2025
1 min readLast updated: January 22, 2026
Wallenberg groups, including AstraZeneca and Ericsson, launch Sferical AI to enhance Swedish industry with advanced AI infrastructure.
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)
The new AI company is called Sferical AI.
Sferical AI aims to boost the competitiveness of Swedish industry by providing advanced AI infrastructure and computing power.
The companies involved are AstraZeneca, Ericsson, Saab, SEB, and Wallenberg Investments.
They announced a partnership with chip maker Nvidia to provide its latest generation AI data centre platform.
Wallenberg family foundations hold major shareholdings in AstraZeneca, Ericsson, Saab, and SEB, which are all part of this AI initiative.
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