The former parent company of Yandex, Dutch Nebius, raised $700 million. Who else is among the investors besides Nvidia
Dutch company Nebius, which develops AI-oriented cloud platforms, has raised $700 million from investors.
Dutch company Nebius, which develops AI-oriented cloud platforms, has raised $700 million from investors.
Investors included Nvidia Corp., Accel Partners LP and Orbis Investments, the company said. Matt Weigand, the Accel partner who led the investment round, will join Nebius' board of directors.
The company expects to receive annual revenue (ARR)1 by the end of 2025 from $750,000 to $1 billion.
On Monday, it became known that Nebius will use the raised funds to issue 33.3 million shares at $21 each. However, the company is postponing previous plans to buy back shares, writes Bloomberg.
Investors invest in Nebius primarily in technologies that support AI, as PYMNTS writes, referring to the report. In particular, CoreWeave, which competes with Nebius and is also backed by Nvidia, plans to open an exchange for $23 billion.
In early 2024, Amsterdam-based Nebius rebranded after selling its Russian business, including Yandex. After the Russian invasion of Ukraine in 2022, Yandex shares were suspended on Nasdaq. Nebius resumed trading in October this year.
Yandex founder Arkady Volozh will return to the post of CEO after the sanctions are lifted.
He said the new funding will support the expansion of the company’s «GPU clusters,» a suite of specialized artificial intelligence chips and cloud services available in data centers.
Last August, it became known that the Dutch holding company Yandex NV is preparing to relaunch under a new brand in Europe.
Read the main IT news of the country in our Telegram
Read the main IT news of the country in our Telegram
The Dutch Yandex renounces its Russian roots and wants to relaunch its brand in Europe
The Dutch Yandex renounces its Russian roots and wants to relaunch its brand in Europe
«City action is much better than people think.» Former head of Google Ukraine Sholomko — about TikTok, Mask, Russian Telegram and former competition with Yandex
«City action is much better than people think.» Former head of Google Ukraine Sholomko — about TikTok, Mask, Russian Telegram and former competition with Yandex
How tech companies avoid Russia: their own Yandex tries to cut ties, and Samsung refuses to officially import washing machines
How tech companies avoid Russia: their own Yandex tries to cut ties, and Samsung refuses to officially import washing machines
Nvidia became the most valuable company in the world with a capitalization of $3.3 trillion: how its value changed during the year
Nvidia became the most valuable company in the world with a capitalization of $3.3 trillion: how its value changed during the year
