Swedish banking group SEB has joined a powerful consortium of leading companies—including AstraZeneca, Ericsson, Saab, and Wallenberg Investments—in a joint venture to build Sweden’s largest enterprise AI supercomputer in collaboration with Nvidia. The initiative aims to create a national AI factory that will significantly advance Sweden’s artificial intelligence capabilities across multiple industries.
The consortium is establishing a new joint Swedish company to operate the AI infrastructure, which will be powered by Nvidia’s latest generation of scalable supercomputing technology. Once deployed, it will serve as a vital production facility and a reference installation for AI development, offering unprecedented compute capacity for tasks like training domain-specific AI models and executing large-scale reasoning AI workloads.
Marcus Wallenberg, chair of both SEB and Wallenberg Investments, highlighted the broader implications: “Investing in cutting-edge AI infrastructure is a crucial step toward accelerating the development and adoption of AI across Swedish industry. We believe this initiative will generate valuable spillover effects—by enabling upskilling, fostering new collaborations, and strengthening the broader national AI ecosystem.”
For SEB, the partnership is a strategic move to fast-track its AI adoption. Jonas Ahlström, SEB’s chief operating officer and deputy CEO, stated: “We will accelerate AI deployment across SEB to enable strategic leaps in our service to customers and to drive innovation in productivity and speed of delivery. Access to cutting-edge AI resources in Sweden is key in preparing the bank for the future.”
Ahlström also emphasized the importance of maintaining an open ecosystem approach, affirming that SEB will continue to collaborate with public cloud providers as part of its broader AI strategy.