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.

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,

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

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

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.

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,