Nvidia and Wallenberg’s business launching AI ventures in Sweden

nvidia A cluster of companies backed by Corp. and the Swedish influential Wallenberg family, has launched ventures to build artificial intelligence infrastructures in Scandinavian countries.

Company Groups – Includes AstraZeneca plc, Erikson Investment Vehicles of AB, Saab AB, SEB AB and Wallenberg – Develop what is known as Sweden’s largest enterprise AI supercomputer.statementSaturday. Nvidia also said it would establish the country’s first AI technology centre to advance research with industry partners.

“The country is building its first AI infrastructure, laying the foundation for breakthroughs across science, industry and society,” said Jensen Huang, CEO of Nvidia.

As part of the initiative, Saab said it will deploy AI methodology to accelerate its development of defensive capabilities. Other companies have also made pledges.

“We believe this initiative will create valuable ripple effects,” said Marcus Wallenberg, chairman of Wallenberg Investments AB.

A Swedish industrial dynasty rooted in the 19th century, Wallenbergs remains an active shareholder in some of Europe’s largest companies, primarily through ownership. Investors Ab and Fam. Dividends are paid through the so-called foundation ecosystem, including Swedish Croner ($287 million) each year for research and education in Scandinavian countries.

This story was originally introduced Fortune.com