Potential monopolization of the microelectronics sector in Russia could be a concern.
In a significant move for the Russian tech industry, Sber Bank is reportedly in talks to purchase a stake in GK "Element," the largest Russian microelectronics producer, owned by AFK "Systema." This potential deal could mark a major step towards consolidating the microelectronics market in Russia.
Arseny Brykin, Director of the "Basis" consortium, has stated that the Russian government aims to create a single holding in microelectronics. This strategic goal aligns with Sber's active development of large language models (LLMs) like GigaChat and Kandinsky.
The consolidation of the microelectronics market could be essential for achieving the strategic goal of popularizing AI at the state level. If Sber becomes the investor in the deal, it would achieve synergy in addressing state tasks and achieving commercial results.
Sber, one of the two largest players in AI development in Russia, already has assets in the computer equipment sector, with control over "Aquarius," a computer equipment producer. The potential deal value for the purchase of Element ranges from 15 billion to 28 billion rubles.
Anatoly Dmitrenko, Deputy General Director of "PSK-Resheniya," believes that strengthening microelectronics competencies for AI development is a logical step. Anna Avakimyan, Chief Analyst at "RegBlock," shares this sentiment, stating that the purchase of Element would allow Sber to build a significant foundation for hardware development.
Meanwhile, in Yekaterinburg, a factory for producing microchips is being built for 12 billion rubles. The identity of the builder remains unknown at this time. However, it is worth noting that a group of domestic engineers from Intel joined Sber in 2023. By combining its software developments and hardware, Sber could bring new technological products to the market.
Intriguingly, if the deal goes through, Element's shares could be delisted as the state views the microelectronics sector as one that should not be public in the current conditions. This move could potentially help AFK "Systema" reduce its debt load, which is almost reaching 1.5 trillion rubles.
S8 Capital, a partner of Sber, is also involved in the discussions regarding the microelectronics market consolidation. Ural residents have developed a machine for manufacturing electronic boards, the size of a refrigerator, further underscoring the potential of the microelectronics sector in Russia.
Microelectronics is a promising asset, without which there would be no high-tech industry and technological sovereignty. This potential deal between Sber and Element could be a significant step towards achieving these goals and establishing Russia as a major player in the global tech industry.
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