| Nebius Group N.V. | |
| Traded As: | NASDAQ: |
| Industry: | Technology company |
| Location: | Amsterdam |
| Key People: | John Boynton, Chairman Arkady Volozh, CEO |
| Subsid: | Nebius.AI Toloka Avride TripleTen |
| Footnotes: | [1] [2] |
Nebius Group N.V., headquartered in Amsterdam, is a holding company that owns Nebius.AI, Toloka, Avride, and TripleTen.[1] It also owns a data center in Mäntsälä, Finland, and has minority stakes in other technology companies.[1] The company is focused on infrastructure for artificial intelligence applications.[3] [4]
The company was formed in 1989 as Yandex N.V. by Arkady Volozh as a holding company for Yandex. In July 2024, due to international sanctions during the Russian invasion of Ukraine, it sold Yandex to a consortium of Russian investors, retaining several businesses that operated outside of Russia, and was renamed Nebius Group.
The company was formed in 1989 as Yandex N.V. by Arkady Volozh as a holding company for Yandex. On May 24, 2011, the company raised $1.3 billion in an initial public offering on NASDAQ, the biggest initial public offering for a dot-com company since Google's offering in 2004.[5] [6] [7] [8] At that time, Baring Vostok Capital Partners owned a 35% stake in the company and Tiger Technologies owned a 15% stake.[9] [10]
In March 2022, the company's securities were suspended for trading on the Nasdaq due to international sanctions during the Russian invasion of Ukraine. The company repurchased its convertible bonds per their terms in September 2022.[11] [12]
In July 2024, due to international sanctions during the Russian invasion of Ukraine, it sold Yandex to a consortium of Russian investors, retaining several businesses that operated outside of Russia, and was renamed Nebius Group. Its shares then resumed trading on the Nasdaq.[1] [13]
In September 2024, the company announced plans to invest $1 billion in artificial intelligence infrastructure in Europe by mid-2025.[14]
In October 2024, the company announced plans to triple the capacity of its data center in Mäntsälä, Finland, to up to 60,000 Nvidia GPUs.[15]
Also in October 2024, the company announced a cloud computing platform using processors from Nvidia focused on artificial intelligence applications.[16]
On November 19, 2024, Nebius Group announced its plan to open its first cloud computing operation in the United States of America which could square up around 35,000 chips from Nvidia. For this purpose, the company is leasing data center space in Kansas City, Missouri, which will be home to Nvidia's H200 chips starting early in 2025. It also announced its plans to open customer support hubs in San Francisco and Dallas, Texas, and plans to open another office in New York by the end of 2024.[17]
On December 2, 2024, Nebius said that it planned to raise $700 million in a private placement from investors which included Nvidia, Accel and some accounts managed by Orbis Investments.Nebius plans to use this $700 million investment for financing additional firepower to build stocks of Graphics Processing Units (GPUs), cloud platforms and other tools to boost AI Development on a larger scale.[18]