European AI infra company Nebius nabs $700M from Nvidia, Accel, others

Nebius raises $700M for U.S. growth from Nvidia, Accel, Orbis.

: Nebius, the European AI infrastructure firm, has secured $700 million from investors including Nvidia and Accel to expand in the U.S. The funds will help Nebius, previously known as Yandex N.V., grow its AI infrastructure by utilizing co-location facilities and 'greenfield' sites. The company aims to achieve an ARR between $750 million and $1 billion by 2025, indicating brighter financial forecasts.

Nebius, a major player in AI infrastructure, has garnered $700 million from renowned investors like Nvidia, Accel, and Orbis, partly to support its expansion efforts in the United States. Originally Yandex N.V., Nebius rebranded following trading sanctions, pivoting towards AI infrastructure across both Europe and the U.S.

To achieve this growth, Nebius has outlined a mix of co-location facilities alongside its own infrastructure projects, necessitating significant capital outlay. Despite challenges, funds from recent investments and bank reserves have allowed the company to focus on growth rather than buy-back programs, freeing up finances for further developments.

With improved financial health, Nebius updated its revenue forecast, predicting an ARR of $750 million to $1 billion by 2025. Arkady Volozh, CEO, stressed the need for additional capital, highlighting the dual reliance on technology and funding to drive expansion. Moreover, Accel's Matt Weigand will join Nebius's board, enhancing the company's leadership.

AI infrastructureExpansionNvidia