Jun. 06, 2019
Sumitomo Corporation of Americas
Sumitomo Corporation Announces Strategic Investment In Hypergiant IndustriesDeal Reinforces Sumitomo’s Leadership Position in Industrial Artificial Intelligence
Tokyo, Japan, – Sumitomo Corporation of Americas (“SCOA”) and Sumitomo Corporation (together “Sumitomo Corporation Group”) are pleased to announce today a strategic investment in Hypergiant Industries, the AI industrial complex for leading global enterprises and governments. The relationship will accelerate AI-driven innovation initiatives across the Sumitomo Corporation Group’s 900+ subsidiaries and associated companies, while fueling ongoing growth for Hypergiant Industries.
The Sumitomo Corporation operates in 66 countries around the globe. Their business operations span an array of industries including steel, automotive, energy, manufacturing and construction. Founded in 1919, The Sumitomo Corporation has a long history of successfully driving innovation through strategic investments in breakthrough research and technologies. Today’s announcement confirms Sumitomo’s ongoing commitment to invest in advanced intelligence technologies that keep Sumitomo Corporation’s groups, their subsidiaries and associated companies at the forefront of their respective industries.
Jun Okawara, Senior Vice President, Sumitomo Corporation of Americas said, “Hypergiant has demonstrated the same forward-thinking mindset that has propelled SCOA for decades. We are pleased to invest in their mission and eager to find other avenues for strategic partnership in the years to come. Artificial intelligence and machine learning are quickly becoming foundational elements of any innovative business, and we are confident that deals like this will help us maintain our leadership position for years to come.”
In late 2018, McKinsey predicted that AI would generate $13 trillion in global economic activity by 2030. Hypergiant’s business focuses on industrial applications of AI, where adoption and ROI has outpaced most other sectors and generates a disproportionate of the AI’s total value. Since the company’s public launch in 2018, Hypergiant has deployed solutions for dozens of customers in oil and gas, manufacturing, automotive, aerospace, healthcare, government and beyond.
“We’re proud to be backed by a global leader like SCOA,” said Ben Lamm, CEO and co-founder of Hypergiant. “SCOA is a company that has advanced so many industries with critical technological breakthroughs decade after decade. This relationship will ensure that both SCOA and Hypergiant remain ahead of the competition in AI for years to come.”
For more information, please visit: https://www.hypergiant.com/
About Sumitomo Corporation
Sumitomo Corporation (“SC”) is a leading Fortune 500 global trading and business investment company with 110 locations in 66 countries, regions and 22 locations in Japan. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and Digital, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics.
About Hypergiant Industries
Hypergiant Industries is the AI industrial complex for leading global enterprises and governments. We help major institutions innovate with breakthrough machine intelligence-driven technology. The solutions, products, and companies we create support our customers on their mission to speed beyond norms and realize an exploded potential of the future we were promised. We push the boundaries of what was previously thought technologically impossible. We meet our customers in the space where impossibility intersects reality. Where light filters out the dark. And machine intelligence makes everything about your business more intelligent.
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This Project especially contributes to “Contributing to the Development of Local Communities and Industries” and “Establishing a Foundation for Comfortable and Enriching Lifestyles”.