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Headlines

Sweden's Wallenberg groups launch joint AI company

Published by Global Banking & Finance Review

Posted on August 22, 2025

1 min read

· Last updated: January 22, 2026

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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 Groups Collaborate to Launch New AI Company in Sweden

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)

Key Takeaways

Wallenberg groups collaborate to form Sferical AI.
The company aims to enhance Swedish industry competitiveness.
Partnership with Nvidia for AI data centre technology.
Major shareholdings in AstraZeneca, Ericsson, Saab, and SEB.
Focus on secure and integrated AI infrastructure.

Frequently Asked Questions

What is the name of the new AI company launched by Wallenberg groups?

The new AI company is called Sferical AI.

What is the goal of Sferical AI?

Sferical AI aims to boost the competitiveness of Swedish industry by providing advanced AI infrastructure and computing power.

Which companies are involved in the launch of Sferical AI?

The companies involved are AstraZeneca, Ericsson, Saab, SEB, and Wallenberg Investments.

What partnership did Wallenberg groups announce in May?

They announced a partnership with chip maker Nvidia to provide its latest generation AI data centre platform.

What is the significance of Wallenberg family foundations in this venture?

Wallenberg family foundations hold major shareholdings in AstraZeneca, Ericsson, Saab, and SEB, which are all part of this AI initiative.

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Sweden's Wallenberg groups launch joint AI company

Wallenberg Groups Collaborate to Launch New AI Company in Sweden

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