Russia / Россия: Yandex remained as Nebius Group

 Nasdaq-listed tech giant, Yandex which was formerly referred to as “Russia’s Google,”  have been renamed as Nebius Group and pivoted to focus on AI following the company's agreement to sell its Russian operations to local management and investment firms. 
 

The company said: “In addition to expanding the capacity of our Finnish data center, we plan to build greenfield data centers at new locations primarily in Europe, as well as deploying additional GPU capacity at colocation data centers with modified architecture to reduce installation time. All these together will allow us to reach a total capacity of tens of thousands of GPUs.”

“We see a significant opportunity to invest in building the leading AI infrastructure player in Europe, with a multi-billion annual revenue potential. This will require substantial capital investments, for which we expect to draw on a variety of funding sources including Nebius Group’s balance sheet as well as public and private equity or debt.”