Yandex’s former parent company Nebius Group has raised $700 million from several investors, including Nvidia, venture fund Accel and investment firm Orbis. The money will be used to develop infrastructure for artificial intelligence in the United States and other countries, according to a statement on the company’s website.
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“The core of our business is our expertise in creating cutting-edge technology infrastructure. We have already demonstrated the scale of our ambitions by starting to build AI infrastructure on two continents. This strategic funding gives us additional opportunities for faster and larger-scale work,” said Arkady Volozh, director of Nebius and one of the founders of Yandex.
As part of the agreement, Accel partner Matt Weigand will become an observer on the Nebius Group board of directors, and the board will nominate him for the director position at the 2025 shareholder meeting, according to the statement. Nebius will also issue 33.3 million Class A shares at a price of $21 per share.
Nebius Group is the former Dutch Yandex NV, which in the summer sold Yandex’s Russian business to a consortium of investors and withdrew from the IT company’s shareholders, retaining its international business.
In September, the company opened a GPU cluster in Paris with Nvidia chips and in November entered the US cloud market, opening offices in San Francisco and Dallas and announcing the launch of a new cluster. The group also includes Toloka (data labeling), Avride (unmanned vehicles), Tripleten (educational services) and a network of data centers.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
