Nebius, formerly Yandex N.V., Secures $700M in Oversubscribed Financing from Nvidia, Accel for AI Expansion

Dec 2, 2024, 12:34 PM

Nebius Group N.V., a European AI infrastructure company, has successfully secured $700 million in a private placement financing round. The investment was led by notable participants including Nvidia and Accel, along with other institutional and accredited investors. This funding aims to bolster Nebius's ambitions in the AI sector, particularly in expanding its infrastructure capabilities. The announcement comes as Nebius, formerly known as Yandex N.V., seeks to enhance its position in the competitive AI landscape. The financing round was reportedly oversubscribed, indicating strong investor interest in the company's potential.