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Market Chatter: Russia's Sberbank Looking to Power Gigachat AI Model with China Chips

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Russian banking giant Sberbank is looking to power its GigaChat artificial intelligence model with China-made microchips, Reuters reported Wednesday, citing CEO German Gref.

Sanctions imposed by the West hamper Russia's access to advanced semiconductor technology, the newswire said.

Gref has yet to say what chips Sberbank is planning to purchase, Reuters said.

However, Sberbank's push for advanced AI chips also faces competition from Chinese internet firms as they are also rushing to purchase Ascend 950 AI chips from Huawei, Reuters said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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