Nebius Group, formerly Yandex, raises $700M for AI development, aiming for $1B in 2025 revenue.

Nebius Group, formerly Yandex and now based in Amsterdam, has raised $700 million from investors like Nvidia and Accel to develop AI chips and cloud services. The funds will help expand AI infrastructure, including high-performance GPU clusters and cloud platforms. Nebius, led by Arkady Volozh, expects its revenue to reach between $750 million and $1 billion by the end of 2025.

December 02, 2024
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