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

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 — 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.

Nebius stock jumped on the news that Nvidia had joined a $700 million private placement for the AI company. Warren Buffett Just Sent Out a Deafening Warning Signal to the Market. 3 Things Investors Should Do.

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,

Nvidia (NVDA), along with other investors are looking to invest in the $700M private placement financing round by Nebius (NASDAQ:NBIS). Shares in NBIS rose 15% in premarket trade. Nebius added the financing also includes the participation from Accel,