Nebius Secures $700M Funding from Nvidia, Accel to Fuel AI Infrastructure Expansion
Major Investment Powers European AI Leader’s Global Growth
Nebius, the European AI infrastructure company (formerly Yandex N.V.), has successfully raised $700 million in a landmark funding round to accelerate its U.S. expansion and strengthen its position in the competitive AI infrastructure market.
Key Investors and Funding Details
- Lead Investors: Nvidia, Accel, and Orbis anchor the round
- Funding Structure: Private placement of 33.3 million Class A shares at $21/share (3% premium to recent trading average)
- Strategic Significance: Reinforces Nebius’ transition from its Russian-affiliated past to a pure-play AI infrastructure provider
“We’ve attracted dozens of prominent investors,” revealed Nebius CEO Arkady Volozh during a press briefing. The full investor list will be disclosed in upcoming SEC filings.
From Yandex to Nebius: A Strategic Transformation
The Netherlands-based company has undergone a remarkable evolution:
- Completed divestment of Russian assets earlier this year
- Resumed Nasdaq trading in October after 3-year sanctions-related hiatus
- Officially rebranded as Nebius in July 2024
- Now focused on providing “full stack” AI infrastructure solutions
Expanding Business Portfolio
Beyond core cloud infrastructure, Nebius operates:
- Avride: Texas-based autonomous vehicle company
- Toloka: Netherlands-based generative AI/LLM specialist
- TripleTen: Wyoming-headquartered edtech platform
Aggressive Infrastructure Expansion Plans
Nebius is pursuing a hybrid growth strategy:
- Co-location facilities: Recently added sites in Kansas City and Paris
- Greenfield development: Planning to triple capacity at Finland data center (75 MW target)
- Competitive landscape: Facing well-funded rivals like CoreWeave (also Nvidia-backed)
Financial Position and Future Outlook
- Current war chest: ~$3 billion including recent funding
- Revised projections: \(750M-\)1B annual run rate expected by end of 2025 (up from \(500M-\)1B)
- Future fundraising: Additional capital (equity or debt) expected to fuel expansion
“Building AI infrastructure is extremely capital intensive,” Volozh acknowledged. “While we’re confident in our technology, we’ll need more funding to accelerate our growth.”
Governance Updates
As part of the investment:
- Accel partner Matt Weigand joins board as observer
- Formal election to occur at 2025 shareholder meeting
- Buyback program discontinued due to strong public market performance
This funding round positions Nebius as a serious contender in the global AI infrastructure race, with particular focus on challenging U.S. market dominance while maintaining its European stronghold.
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