Nebius Group, an AI infrastructure firm founded by Arkady Volozh, has secured $700 million in funding from investors including NVIDIA Corp (NASDAQ:NVDA, ETR:NVD), Accel, and Orbis Investments.
According to Reuters, the private placement values Nebius shares at $21 each, a slight premium to their average trading price since the company’s Nasdaq listing resumed.
The funding will accelerate Nebius's development of AI tools, including GPU clusters and cloud platforms, with plans to invest over $1 billion by mid-2025.
Based in Kansas City, Missouri, Nebius is expanding in the US, where it serves more than half its clients.
The company, formed after Yandex split its assets, reported the financing was oversubscribed and raised its projected 2025 revenue to as much as $1 billion