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The Swiss AI Initiative, launched in December 2023, is described as the largest open science/open source effort for AI foundation models worldwide. Seeded with over 10 million GPU hours on the Alps supercomputer (10,000+ GH200 GPUs) and a 20 million CHF grant from the ETH Domain, it unites over 800 researchers from 10+ Swiss academic institutions. The initiative is the first project of the Swiss National AI Institute, a partnership between ETH Zurich and EPFL AI Centers, and aims to produce open software, models, and data for use by Swiss stakeholders including SMEs and startups.