Amsterdam-based Nebius Group, newly independent from Russian tech giant Yandex, has announced plans to invest more than $1 billion in artificial intelligence (AI) infrastructure across Europe by mid-2025.
This follows a July agreement where a Russian consortium finalized a $5.4 billion deal to acquire Yandex’s Russia-based assets, marking a significant corporate exit since Russia’s invasion of Ukraine in February 2022. With its new autonomy, Nebius is set to drive AI infrastructure development, according to founder Arkady Volozh.
Nebius Group encompasses several subsidiaries, including data partner Toloka AI, education technology firm TripleTen, and self-driving unit Avride. The company has also retained Yandex’s Nasdaq listing, though trading is currently suspended.
In its recent statement, Nebius outlined plans to enhance its GPU (graphics processing unit) capabilities, including a new GPU cluster in Paris featuring Nvidia GPUs, the construction of new data centers, and an expansion of its existing facility in Finland.
These investments aim to significantly increase Nebius’s GPU capacity, with plans already in place to build two new data centers in Europe and expand the data center in Finland.
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