Latest news with #WallenbergInvestmentsAB
Time of India
3 days ago
- Business
- Time of India
Economic Relationship Between India And Sweden: Piyush Goyal Promotes Swedish Investment in India's Infrastructure and Manufacturing, ET Infra
Advt Commerce and Industry Minister Piyush Goyal on Wednesday said that enhanced business engagement will add further momentum to the growing Indian-Swedish bilateral the India-Sweden Business Leaders' Roundtable (ISBLRT) here, hosted by Marcus Wallenberg, Chair, Wallenberg Investments AB, the minister said India-Sweden cooperation will continue to drive innovation, entrepreneurship, and sustainable growth for a brighter future."Envisioned by the leadership of India and Sweden in 2016, ISBLRT has since emerged as a cornerstone platform for bringing together business leaders from both nations to foster collaboration in trade , innovation, and investment," the minister said in a post on X."Today's discussions were constructive and forward-looking. Emphasised the need to build partnerships grounded in shared innovation, technological progress, and mutual prosperity," he also had a "highly productive" meeting with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade, and Hakan Jevrell, State Secretary for Foreign Trade, Sweden."We discussed strengthening collaboration across sectors like clean energy digital technology , climate, healthcare and life sciences, and skill development, among others," the Commerce Minister invited greater Swedish participation in India's growing infrastructure and manufacturing sectors "Looking forward to unlocking new chapters of cooperation," said Union Minister arrived in Stockholm for a three-day official visit to Sweden, after concluding a highly successful two-day visit to Switzerland."Eager to engage with Sweden's leadership, business community, and key stakeholders to explore new opportunities and strengthen our longstanding ties," Goyal posted on social media platform over 280 Swedish companies in India and more than 80 Indian companies in Sweden, "the potential for collaboration is immense", he Sweden visit is aimed at reinforcing the existing robust economic relationship and identifying new opportunities for growth, which are aligned with India's long-term economic objectives and global partnerships.
Yahoo
26-05-2025
- Business
- Yahoo
Nvidia (NVDA) to Help Build Sweden's First AI Infrastructure
Bloomberg reported on May 23 that Nvidia Corp. (NASDAQ:NVDA) is partnering with a group of Swedish companies, including AstraZeneca Plc, Ericsson AB, Saab AB, and SEB AB, to create the country's first artificial intelligence infrastructure. Wallenberg Investments AB, the investment vehicle of Sweden's influential Wallenberg family, will also be a significant shareholder in the venture. The project's first phase will establish Sweden's largest enterprise AI supercomputer by deploying two Nvidia DGX SuperPODs featuring NVIDIA's latest-generation Grace Blackwell GB300 systems. Nvidia will also open its first AI Technology Center in Sweden and lead AI research with partners. The venture is expected to be operated by a joint company. A scientist at a computer station, surrounded by a neural network of artificial intelligence code. While welcoming the initiative, Marcus Wallenberg, Chair of Wallenberg Investments AB, emphasized that it will accelerate the development and adoption of AI across Swedish industries, provide opportunities for upskilling, and strengthen the country's AI ecosystem. Jensen Huang, founder and CEO of NVIDIA, described the venture as a catalyst for breakthroughs. He noted: 'As electricity powered the industrial age and the Internet fueled the digital age, AI is the engine of the next industrial revolution. Through the visionary initiative of Wallenberg Investments and Sweden's industry leaders, the country is building its first AI infrastructure—laying the foundation for breakthroughs across science, industry, and society, and securing Sweden's place at the forefront of the AI era.' With the support of high computing power, the four partner companies, Ericsson, AstraZeneca, Saab, and SEB, will collaborate with Nvidia to apply AI in their respective domains: enhancing telecom services, accelerating drug discovery, advancing defense technologies, and driving innovation and productivity in banking. Nvidia Corp. (NASDAQ:NVDA) designs and manufactures graphics processing units (GPUs), system on a chip units (SoCs), and AI hardware and software. Over the years, the company has expanded its offerings from gaming GPUs to include data center solutions, AI computing, and deep learning technologies. The company's GPUs are widely used in data centers for high-performance computing, AI training, and inference, making it a critical player in the data center ecosystem. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
