on Yandex N.V. (NASDAQ:YNDX)
Nebius Secures $700 Million to Boost AI Infrastructure
Nebius Group N.V. has announced a $700 million strategic equity financing round to accelerate its AI infrastructure deployment. Key investors include Accel, NVIDIA, and Orbis Investments. The funds will enhance Nebius' full-stack AI infrastructure, focusing on GPU clusters and cloud-based tools for developers worldwide.
The financing positions Nebius to support capacity expansion in the US and other major markets. The company anticipates achieving an annualized revenue run-rate of up to $1 billion by the end of 2025. With these resources, Nebius has decided against repurchasing its Class A shares, instead allocating funds to core business growth.
John Boynton, Chairman of the Board, emphasized the importance of investing in their AI infrastructure to seize substantial market opportunities. The strategic move is aimed at maximizing shareholder value amid strong investor engagement post-Nasdaq trading resumption.
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