Nebius Group
| Nasdaq: NBIS | |
| Industry | Technology company |
| Headquarters | Amsterdam |
Key people | John Boynton, Chairman Arkady Volozh, CEO |
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| Subsidiaries | Nebius.AI Toloka Avride TripleTen |
| Website | group |
| Footnotes / references [1][2] | |
Nebius Group N.V., headquartered in Amsterdam, is a holding company that owns Nebius.AI, Toloka, Avride, and TripleTen.[1] It also owns a data center in Mäntsälä, Finland, and has minority stakes in other technology companies.[1] The company is focused on infrastructure for artificial intelligence applications.[3][4]
The company was formed in 1989 as Yandex N.V. by Arkady Volozh as a holding company for Yandex. In July 2024, due to international sanctions during the Russian invasion of Ukraine, it sold Yandex to a consortium of Russian investors, retaining several businesses that operated outside of Russia, and was renamed Nebius Group.
History
[edit]The company was formed in 1989 as Yandex N.V. by Arkady Volozh as a holding company for Yandex.
On May 24, 2011, the company raised $1.3 billion in an initial public offering on NASDAQ, the biggest initial public offering for a dot-com company since Google's offering in 2004.[5][6][7][8] At that time, Baring Vostok Capital Partners owned a 35% stake in the company and Tiger Technologies owned a 15% stake.[9][10]
In March 2022, the company's securities were suspended for trading on the Nasdaq due to international sanctions during the Russian invasion of Ukraine. The company repurchased its convertible bonds per their terms in September 2022.[11][12]
In July 2024, due to international sanctions during the Russian invasion of Ukraine, it sold Yandex to a consortium of Russian investors, retaining several businesses that operated outside of Russia, and was renamed Nebius Group. Its shares then resumed trading on the Nasdaq.[1][13]
In September 2024, the company announced plans to invest $1 billion in artificial intelligence infrastructure in Europe by mid-2025.[14]
In October 2024, the company announced plans to triple the capacity of its data center in Mäntsälä, Finland, to up to 60,000 Nvidia GPUs.[15]
Also in October 2024, the company announced a cloud computing platform using processors from Nvidia focused on artificial intelligence applications.[16]
References
[edit]- ^ a b c d "Nebius Group N.V. announces third quarter 2024 financial results". U.S. Securities and Exchange Commission. October 31, 2024.
- ^ Varghese, Harshita Mary (October 31, 2024). "Nebius Group's quarterly revenue surges on strong AI demand". Reuters.
- ^ Ahlgren, Linnea (July 16, 2024). "Yandex founder launches new Amsterdam-based AI venture after Russia divestment". TNW.
- ^ Sawers, Paul (July 21, 2024). "From Yandex's ashes comes Nebius, a 'startup' with plans to be a European AI compute leader". TechCrunch.
- ^ Rusli, Evelyn M. (May 24, 2011). "Yandex Shares Soar 55% in Market Debut". The New York Times. Archived from the original on August 9, 2017.
- ^ Krastev, Nikola (May 24, 2011). "Russia's Top Internet Company, Yandex, Makes U.S. Debut With IPO". Radio Free Europe/Radio Liberty.
- ^ Kramer, Andrew; Rusli, Evelyn M. (May 24, 2011). "Yandex's Surge on Debut Stirs More Talk of Tech Bubble". The New York Times.
- ^ "Yandex scores big on first day". American City Business Journals. May 25, 2011.
- ^ Pfauth, Ernst-Jan (October 12, 2008). "Yandex IPO delayed after all, what a surprise". The Next Web.
- ^ Popova, Olga; Kiselyova, Maria; Mosolova, Tanya (May 20, 2008). "Russia's Yandex plans up to $2 bln NY IPO - source". Reuters. Archived from the original on January 11, 2021.
- ^ ""Яндекс" предупредил о риске дефолта после приостановки торгов". RBK Daily. 4 March 2022.
- ^ Колотович, Наталья (13 September 2022). ""Яндекс" выкупил 98,7% своих конвертируемых облигаций" [Yandex bought back 98.7% of its convertible bonds]. RBK Daily (in Russian).
- ^ "Yandex NV renamed Nebius Group after Russia split". Reuters. August 16, 2024.
- ^ Marrow, Alexander (September 25, 2024). "Split from Russia's Yandex, Nebius plans $1 billion AI infrastructure investment". Reuters.
- ^ Ahlgren, Linnea (October 8, 2024). "Nebius is tripling Nvidia GPU capacity at its AI data centre in Finland". TNW.
- ^ "Nebius launches new AI-native NVIDIA cloud platform built from the ground up to accelerate AI innovation" (Press release). PR Newswire. October 16, 2024.