Sweden's Wallenberg groups launch joint AI company
STOCKHOLM, Aug 22 (Reuters) - AstraZeneca AZN.L, Ericsson ERICb.ST, Saab SAABb.ST, SEB SEBa.ST 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 NVDA.O 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.
Related Articles
Oracle’s FY2026 Q1 Preview: Will OpenAI Contract Spark a Broadcom-Like Stock Surge?
TradingKey - As analysts raise targets and expectations, could Oracle’s stock replicate the post-earnings rally seen at Broadcom following its OpenAI-related contract announcement?
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?
TradingKey - On 11 September 2025, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI. As a result, headline CPI year-over-year may climb to 2.9%, up from 2.7%
Oracle Q1 FY2026 Earnings: Can Cloud and AI Drive the Next Stock Rally?
TradingKey - Oracle Corporation (NYSE: ORCL) will report Q1 FY2026 results after the close on Tuesday, September 9, 2025, with the webcasted conference call scheduled for 4:00 PM CT / 5:00 PM ET, making the print a fresh read-through on enterprise cloudUnlocking Gold’s Next Leg: $4,000 in Reach by 2025？
TradingKey - Gold has kicked off a fresh uptrend in early September, breaking out of months of compression and reclaiming key territory. The decisive move above $3,500 establishes a new support base and puts higher objectives back on the table for the weeks ahead
2025 Hottest US IPO Week: Klarna, Gemini, Figure Set for “Triple Launch”
TradingKey - 5 companies are now pricing their U.S. initial public offerings (IPOs) for the week starting September 8, with a total expected fundraising exceeding $3 billion, making it the busiest IPO week of 2025. Investors are closely watching the debut performance of Klarna, Gemini, and Figure.
