Key Points
- Nebius Group plans to invest over $1 billion in AI infrastructure across Europe by mid-2025.
- Nebius emerged after Yandex sold its Russia-based assets for $5.4 billion, separating from Russian operations.
- The company is building new GPU clusters in Paris and expanding its data center in Finland.
- Nebius’ investment will increase GPU capacity to tens of thousands, supporting AI development and applications.
Amsterdam-based Nebius Group, which emerged from the recent restructuring of Russian tech giant Yandex, announced plans to invest more than $1 billion in building artificial intelligence (AI) infrastructure across Europe by mid-2025. The company revealed its ambitious plans on Wednesday, which include expanding GPU (graphics processing unit) capacity and constructing new data centers.
Nebius was formed after Yandex finalized a $5.4 billion deal in July 2023 to sell its Russia-based assets to a consortium of Russian investors. This move separated Yandex’s foreign assets from its Russian operations, marking one of the largest corporate exits since the start of Russia’s invasion of Ukraine in 2022. Though the transaction was made at a significant discount, the deal allowed Nebius to break free from its ties to Russia and position itself as a key player in Europe’s AI landscape.
Arkady Volozh, the founder of Yandex and Nebius, expressed in July that the company is now focusing on building infrastructure to support AI technologies. “Freed from its ties to Russia, Nebius plans to join the effort in creating AI infrastructure,” Volozh said in an earlier interview with Reuters. With its new focus, Nebius aims to play a leading role in European AI development.
Nebius Group has several key divisions, including Toloka AI, a data partner; TripleTen, an education technology business; and Avride, a self-driving technology unit. Additionally, Nebius inherited Yandex’s Nasdaq listing under the ticker NBIS.O, although trading remains suspended at the moment.
A large portion of Nebius’ $1 billion investment will enhance GPU capacity, a critical component for AI development. The company plans to build a new GPU cluster in Paris, featuring Nvidia GPUs and new data centers across Europe.
Nebius Group has already begun work on expanding its data center in Finland and signed letters of intent to construct two additional centers in Europe. The company said these investments will allow it to scale up its GPU capacity to tens of thousands of units, which is crucial for supporting AI research, development, and applications.
Nebius’ efforts to build a robust AI infrastructure underline its commitment to leading Europe’s AI ecosystem. The group is poised to become a significant player in the global AI market as it accelerates its infrastructure investments to support future innovations in AI technologies.
