Nebius, the artificial intelligence infrastructure group that was formed from Yandex’s operations outside Russia earlier this year, has raised $700mn from investors including chipmaker Nvidia to capitalise on exploding demand for AI data centres.

The funding is expected to aid Nebius in expanding the clusters of GPUs, cloud platforms and other tools for AI developers.

Nebius Group is raising $700 million in a private placement from investors, including Nvidia, to build the infrastructure underpinning AI.

Nebius Group NV, the technology company rebranded from Russian internet giant Yandex, has raised $700 million from a slate of investors including Nvidia Corp. and Accel Partners LP.

Nebius stock jumped on the news that Nvidia had joined a $700 million private placement for the AI company. Warren Buffett Just Sent Out a Deafening Warning Signal to the Market. 3 Things Investors Should Do.

AI infrastructure firm Nebius Group has secured $700 million in a private funding round led by investors such as Nvidia, Accel, and Orbis Investments. The financing marks a critical milestone for the company,

Nebius — the rebranded European arm of “Russia’s Google,” Yandex — is riding the AI hype wave to build technology for technologists.