1. Accellera Systems Initiative has formed a new working group called the Federated Simulation Standard (FSS) focusing on the interoperability of simulators, models, and components. 2. The FSS working group aims to improve cross-industry collaboration and establish a standard and open infrastructure for interoperability. 3. This initiative reflects a shift in the industry's focus from chip to systems, emphasizing the need for a standardized and open infrastructure to support diverse models and simulators across different industries.