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European AI infra company Nebius nabs $700M from Nvidia, Accel, others
Nebius, the European AI infrastructure company formerly known as Yandex, has raised $700 million in financing to power its U.S. expansion.
Nebius is adopting a hybrid approach to growing its footprint, involving a mix of co-location facilities (shared data centers) which are quicker to set up, and its own “greenfield” sites built from scratch. After the fire sale of its Russian assets earlier this year, Nebius has around $2.2 billion in the bank already — however, it had ring-fenced a portion of that for a buy-back program in case any existing investors wanted to exit. As part of its investment, Accel partner Matt Weigand will also be joining Nebius’s board of directors, though initially he will only have observer status until he’s formally elected at the company’s AGM in 2025.
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