SanDisk Q4 Earnings Beat Estimates as Q1 Revenue Outlook Meets Expectations 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
OpenAI Restricts Astra AI Over Cyberattack Risks 
S&P 500, Nasdaq Futures Rise as Iran Risks and CPI Loom 
US Dollar Near Two-Month Low as Markets Await Inflation Data 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Gold Price Hits Two-Month High as Investors Await US Inflation Data 
SK Hynix Bonus Dispute Deepens as Union Rejects Stock-Based Payout Proposal 
England Drought Expands to 71% as Heatwave Deepens Water Crisis 
DeepSeek to Raise AI API Prices as Demand for New Models Surges 
Trump Media Says Truth API Draws 10+ Customers as Conflict Concerns Grow 
Alphabet Stock Slides as Google AI Pioneer Jeff Dean Exits to Launch Discovery Loop 
Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium 
Sony, TSMC Eye $6.3 Billion Japan Chip Venture for Next-Gen Image Sensors 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Bets 
Telegram Restored on Apple App Store After Temporary Removal 
President Vladimir Putin has tasked Russia's government and Sberbank to bolster AI cooperation with China. This strategic move aims to counter the impact of Western sanctions that have hindered Moscow's access to critical technology, pushing for innovation alongside BRICS partners.
Putin Directs Russia's Largest Bank to Collaborate on AI with China
According to Reuters, Russian President Vladimir Putin has directed Sberbank, the country's largest bank, and the Russian government to work together with China to develop AI.
Wednesday marked the publication of Putin's orders on the Kremlin website, following his announcement three weeks ago that Russia would collaborate with BRICS and other nations to advance artificial intelligence.
Russia Looks to China Amid Sanctions Blocking Tech Access
Specifically, he urged Sberbank and the Russian government to "ensure further co-operation with the People's Republic of China in technological research and development in the field of artificial intelligence."
Due to Western sanctions, Russia is no longer able to import the microchips it needs to continue its war against Ukraine. As a result, Russia's artificial intelligence (AI) aspirations have been severely curbed.
Sberbank CEO Highlights Challenges in AI Hardware
The hardest hardware for Russia to replace, according to Sberbank CEO German Gref in 2023, were graphics processing units (GPUs), the microchips that support artificial intelligence development.
Russia is trying to undermine America's hegemony in a 21st-century technology that holds great promise by forming partnerships with non-Western nations.
New AI Alliance Network Announced by Putin
On December 11, Putin announced that a new artificial intelligence alliance network would be established, which would bring together experts from the BRICS countries as well as other states that are interested.
According to the UK-based Tortoise Media's Global AI Index, which rates 83 countries on AI implementation, innovation, and investment, Russia is presently ranked 31st. This places Moscow far behind not just China and the US but also neighboring BRICS nations India and Brazil.
