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 a private funding round led by investors such as Nvidia, Accel, and Orbis Investments. The financing marks a critical milestone for the company,

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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.

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.

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,

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