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.

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

AI infrastructure firm Nebius Group has secured $700 million in funding, led by Nvidia, to expand U.S. operations and accelerate GPU cluster development. The firm projects up to $1 billion in revenue by 2025,

AI infrastructure player Nebius Group is raising $700 million through a private placement from a group of investors that includes Nvidia. Nebius stock jumped on the news. The Netherlands-based Nebius Group said in a news release that the funding will support additional capacity for its plan to offer cloud-based computing power for training and running AI models.

Nebius Group, an artificial intelligence (AI) infrastructure company, has recently announced that it has raised $700 million in a private funding round led by Nvidia, venture capital firm Accel, and accounts managed by Orbis Investments,

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

AI infrastructure firm Nebius Group on Monday said it was raising $700 million in a private placement from investors including Nvidia , Accel and some accounts managed by Orbis Investments.

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.