PYMNTS.com December 2, 2024
Dutch cloud computing company Nebius has reportedly raised $700 million from investors including Nvidia.
The company, which rebranded from Russian internet company Yandex, has sold that business’s search engine and now focuses on cloud-computing services for artificial intelligence (AI) operations, Bloomberg News reported Monday (Dec. 2).
CEO Arkady Volozh said the new funding will support the expansion of the company’s “GPU clusters” — a package of specialized AI chips and cloud services found in data centers.
Nebius rebranded after selling its Russian business. Yandex’s shares on the Nasdaq were suspended when Russia invaded Ukraine in 2022. Nebius, meanwhile, resumed trading in October, Bloomberg said.
The report also noted that the funding comes as major investors are funneling vast sums of...
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