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European AI infra company Nebius nabs $700M from Nvidia, Accel, others

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Nebius, the publicly-traded European AI infrastructure company formerly known as Yandex N.V., has raised $700 million to fuel its U.S. expansion.

The financing came from “dozens of very well known investors,” Nebius CEO Arkady Volozh (pictured above) told TechCrunch during a press briefing today. While all the investors’ names will be revealed when the paperwork is filed with the Securities and Exchange Commission (SEC), the company is only disclosing three for now: existing partner and GPU giant Nvidia, Silicon Valley VC firm Accel, and asset manager Orbis.

The private placement will see Nebius issue 33.3 million Class A shares at $21, implying a 3% premium on the stock’s average price since trading resumed in October.

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