Sberbank Plans AI Collaboration with China Amid DeepSeek’s Rise

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Sberbank, Russia’s largest bank, is set to collaborate with Chinese researchers on artificial intelligence (AI) projects, a top executive revealed, following the groundbreaking success of China’s DeepSeek AI model. DeepSeek, which has created a highly cost-effective AI model, has shaken up the tech landscape, challenging the dominance of U.S. companies like Nvidia. This move reflects the growing collaboration between Russia and China, which share a “no limits” strategic partnership, particularly in the realm of AI.

Under CEO German Gref, Sberbank has transitioned from its bureaucratic past as a Soviet-era state savings bank into a leader in AI innovation. In 2023, the bank launched its own AI model, GigaChat, and is now focusing on joint research projects with China. Alexander Vedyakhin, Sberbank’s First Deputy CEO, confirmed the plans but refrained from naming specific Chinese research partners. The partnership is expected to strengthen the scientific ties between the two countries, in line with Russia’s broader push to expand cooperation with China in areas such as military AI applications.

DeepSeek’s innovative, low-cost AI models have caused a stir globally, with investors now viewing them as serious competition for U.S. tech giants. The potential Russia-China AI alliance could further disrupt the global AI sector, especially as the race between China and the U.S. for AI supremacy intensifies. The shared vision of Presidents Vladimir Putin and Xi Jinping, who view the West as in decline, could fuel further collaboration in emerging technologies like AI, quantum computing, and synthetic biology.

Despite facing sanctions, Russia is eager to build AI partnerships with China and other BRICS nations to counterbalance U.S. dominance. However, Russia’s own AI progress remains difficult to gauge, as some projects are classified. Additionally, both Russia and China struggle with limited domestic computing power due to sanctions, prompting efforts to seek alternative methods to stay competitive in the AI race.

Sberbank’s comparison of its GigaChat MAX model to DeepSeek’s offerings reveals that while DeepSeek excels in scientific tasks, GigaChat remains competitive in the banking sector. Vedyakhin acknowledged DeepSeek’s success as proof that quality AI models can be built without massive investments in infrastructure, such as the U.S. megaproject Stargate. Sberbank, like DeepSeek, has made most of its AI platforms publicly accessible, including its text-to-image model, Kandinsky, and GigaChat Lite, which reflects a more transparent approach than that of OpenAI, drawing a large community.

 

Russian TV Airs Fake Report on DeepSeek’s ‘Soviet Code

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A fabricated Russian news story claiming that China’s DeepSeek AI app is based on secret Soviet code has made its way onto state TV, illustrating a wave of nostalgia in Russia for a bygone era of technological might. The hoax originated from Panorama, a satirical fake news outlet that openly publishes fictional content. The fake report featured an interview with DeepSeek’s founder, Liang Wenfeng, who was quoted as praising Soviet-era programmers and their alleged role in developing the code for the AI startup.

According to the spoof, the DeepSeek code was allegedly created in 1985 by a team led by Viktor Glushkov, a renowned Soviet scientist credited with developing the first personal computer in the Soviet Union in the 1960s. Glushkov was also behind the creation of a data-processing network designed to manage the Soviet planned economy, which some argue contained early features of artificial intelligence.

Despite its fictional nature, the story gained traction, appearing on Rossiya One, a national state television channel, as if it were genuine news. It was further amplified on social media, with prominent figures like Communist Party leader Gennady Zyuganov sharing the report, calling the Soviet Union “the most educated and advanced country”—a post that was later deleted.

Russia’s domestic AI landscape, however, lags behind its global competitors, ranking 31st out of 83 nations for AI implementation, investment, and innovation, according to the Global AI Index by UK-based Tortoise Media. Russia not only trails technological giants like the United States and China but also faces stiff competition from other BRICS members like India and Brazil. Despite boasting two significant domestic AI models, Russia closely monitors China’s AI advancements, particularly the success of DeepSeek’s recent models, which have shaken up the global tech scene.

ECB Eyes Trump’s Crypto Plan to Accelerate Digital Euro Development

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The European Central Bank (ECB) hopes that U.S. President Donald Trump’s support for cryptocurrencies pegged to the U.S. dollar will speed up legislative progress for the digital euro, according to ECB board member Piero Cipollone. The ECB sees its digital euro as an alternative electronic payment method that could lessen Europe’s dependence on U.S. companies like Visa and PayPal.

Cipollone noted that Trump’s backing of globally available stablecoins tied to the U.S. dollar would further expand U.S.-dominated payment systems, adding urgency to the digital euro initiative. The European Commission proposed digital euro legislation in June 2023, but progress has been slow amid skepticism from some lawmakers and financial institutions.

“The political world is becoming more alert to this,” Cipollone said in a recent interview. “And it’s possible that we will see an acceleration in the process.” He expressed hope that the European Parliament and Council would finalize their work on the legislation by summer, allowing for negotiations with the Commission. If all goes as planned, the rules could be finalized by November, when the ECB is set to decide whether to launch the digital euro.

EU lawmaker Markus Ferber mentioned that the Parliament might only have a report ready by summer, signaling slower progress than expected.

Cipollone raised concerns about the growing use of U.S. stablecoins, as they could encourage Europeans to transfer their deposits to the U.S. in favor of using dollar-backed stablecoins for payments. This shift, he argued, would further strain European banks as they lose deposits to U.S. platforms.

Bankers are also wary of the digital euro, fearing that it could lead customers to move their funds into ECB-backed digital wallets. To alleviate such concerns, the ECB has proposed capping the holdings in digital euro wallets at a few thousand euros and not offering interest on these deposits.

Globally, other countries, including Nigeria, Jamaica, and the Bahamas, have already launched central bank digital currencies (CBDCs), with 44 other nations, including Russia, China, and Brazil, running pilots. In contrast, Trump has prohibited the U.S. Federal Reserve from issuing its own CBDC.