The artificial intelligence story continues to grow more compelling with each passing day. In the latest news, a top executive at Russia’s biggest bank told Reuters that Sberbank is planning to collaborate with Chinese researchers on joint AI projects. The emergence of DeepSeek has already sparked a rout in the artificial intelligence world owing to its acclaimed cheap and efficient AI models. Ever since its emergence, the race towards AI supremacy has taken on a new turn.
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Russia and China have reportedly been sharing a “no limits” strategic partnership. They have talked about cooperation in AI but nothing ever came to public knowledge before this. Sberbank, a Russian banking and financial services company headed by CEO German Gref, has since transformed itself from a former state savings bank into one of the country’s leading players in artificial intelligence. The company released its GigaChat model in 2023.
“Sberbank has many scientists. Through them, we plan to conduct joint research projects with researchers from China”.
-Sberbank First Deputy CEO Alexander Vedyakhin told Reuters.
Vedyakhin did not specify who the bank plans to collaborate with, in China. Regardless, a potential partnership between Russia and China over the development of AI is in the works and will be seen as a major threat to the West. This is particularly for the US which is doing everything in its power to acclaim AI supremacy. Putin has directed Sberbank to build cooperation with China and other BRICS nations in AI to encounter U.S. dominance. Similar to China, the country is currently struggling to develop domestic computing capacity as a result of sanctions restricting imports of innovations from the West.
Discussing DeepSeek, Vedyakhin has noted that since the launch of its models, Sberbank has compared them to GigaChat MAX, its most advanced model. The comparison has led them to the conclusion that the Chinese rival was superior in scientific tasks, while GigaChat was on par or better in banking.
“DeepSeek has proven that even with reduced capabilities, it is possible to achieve quality on par with American models. This raises questions about the necessity of extreme investments when there are engineering innovations”.
-Vedyakhin.
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10. Palantir Technologies Inc. (NASDAQ:PLTR)
Number of Hedge Fund Holders: 43
Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems. On February 4th, Wedbush analyst Dan Ives raised the price target on Palantir Technologies Inc. (NASDAQ:PLTR) to $120.00 (from $90.00) and kept a “Buy” rating. According to Ives, the “Messi of AI Story” could be worth over a trillion dollars in market cap in the next three to five years. He has revised his model estimates for Fiscal 2025 based on the company’s strong fourth-quarter results and guidance. As for Palantir, he considers it as a transformational tech story, encouraged by the 43% year-over-year growth in customer count. Notably, the company has secured 129 deals that were at least $1 million in value and 58 deals worth at least $5 million. Ives is also optimistic about its Artificial Intelligence Platform (AIP), which he said is matchless. He further stated that Palantir bears have missed a once-in-a-lifetime kind of opportunity, and that they cannot relate to AI or its high valuation.
“There are some transformational tech stocks that come along every decade and change the landscape…Palantir is one of them in our view and proved it for all the tech world to see”
-Dan Ives
9. Palo Alto Networks, Inc. (NASDAQ:PANW)
Number of Hedge Fund Holders: 64
Palo Alto Networks, Inc. (NASDAQ:PANW) is a leader in AI-powered cybersecurity. On February 5, Kyndryl, an IT infrastructure services provider, announced that it has launched end-to-end, secure access service edge (SASE) services in partnership with Palo Alto Networks Prisma SASE powered by Precision AI. The cloud-first, zero-trust network security solution will allow customers to enhance their network security. The new SASE services support Palo Alto Networks Prisma SASE, integrating network and security into a unified cloud-delivered service. The essence of this move is to help hybrid workforces simplify security while enabling customers to migrate to AI-driven cybersecurity solutions.
“Implementing a SASE approach is one of the biggest network and security initiatives for an organization to take on, requiring significant transformation. These organizations need a solution that helps them scale at the speed of their business, especially with a hybrid workforce and an ever-expanding threat landscape. We’re offering our joint customers exactly what they need to help them transform by combining Prisma SASE, the industry’s most complete AI-powered SASE solution, with Kyndryl’s new SASE services.”
-Kristy Friedrichs, Chief Partnerships Officer, Palo Alto Networks.
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