South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ASML Raises 2026 Outlook as AI Chip Demand Lifts Q2 Earnings 
Australia Flags Child Safety Gaps at Apple, Meta, Google Over Online Sexual Extortion 
SK Hynix Prices Record U.S. ADR Offering at $149 After $200 Billion Investor Demand 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Hyundai Takes Full Control of Boston Dynamics to Accelerate Humanoid Robot and AI Strategy 
SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Nvidia Tightens AI Chip Sales in Asia With Stricter Customer Approval Process 
Samsung to Launch First Yongin Chip Plant by 2029 as South Korea Speeds Up Semiconductor Hub 
Trump Slams New York Data Center Ban, Warns AI Investment Could Shift to Other States 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
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.
