on Yandex N.V. (NASDAQ:YNDX)
Nebius Group Announces Strategic Review to Boost AI Infrastructure Investments
Amsterdam, October 2, 2024 — Nebius Group N.V. (NASDAQ: NBIS) has appointed Goldman Sachs as an exclusive financial advisor to explore strategic options for accelerating investments in its AI infrastructure business. This decision follows inquiries from potential partners and investors.
Arkady Volozh, founder and CEO of Nebius, emphasized the company's strong cash position of over $2 billion, stating that additional resources would expedite and expand their network of GPU clusters to meet the growing global demand in AI development.
Nebius is also engaging with the Nasdaq Listing Hearing Panel to determine the optimal timing for resuming the trading of its Class A shares. This move aims to ensure a smooth and orderly market re-entry.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Yandex N.V. news