Australia Enforces World-First Social Media Age Limit as Global Regulation Looms 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
U.S. Greenlights Nvidia H200 Chip Exports to China With 25% Fee 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
SpaceX Reportedly Preparing Record-Breaking IPO Targeting $1.5 Trillion Valuation 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
US Charges Two Men in Alleged Nvidia Chip Smuggling Scheme to China 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
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.
