Nebius Group announced a $700 million funding round on December 2, 2024, with significant investments from Nvidia, Accel, and Orbis Investments.
Formed from a $5.4 billion asset division of Yandex, Nebius aims to enhance its capabilities in AI infrastructure, particularly in the United States, where it has a substantial client base.
Founded by Arkady Volozh, Nebius plans to invest $1 billion in AI infrastructure by mid-2025, focusing on building GPU clusters and cloud platforms.
The funding round was oversubscribed, with Class A shares sold at a premium, raising revenue projections to between $750 million and $1 billion by 2025.
John Boynton, Chairman of Nebius, emphasized the strong investor confidence in the company's potential and the growth of AI technologies.