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Nebius , the caller formerly make love as Yandex that ’s now focused on cloud substructure for AI uses ( aka “ AI compute ” ) , is to begin trade in on the public market once again — more than two years after the Nasdaqhalted tradingdue to economic sanctions imposed in the wake ofRussia ’s Ukraine invasionin 2022 .
The Netherlands - base companyis vying to become one of Europe ’s lead playersin the burgeon “ GPU - as - a - serving ” space , and sits in a pretty unique position — it is a inauguration in many ways as it ’s starting out afresh as a new business , but being a public companionship means that anyone can invest in it as an alternative to the common U.S. hyperscalers such as Alphabet or Microsoft .
Founded in 1997 , most people hump Yandex as the “ Google of Russia , ” building everything from search engines and advertising products to map and independent vehicles . Yandex ’s core market was very much its domestic Russia plus a handful of neighboring land , however its parent was a Dutch withstand organization called Yandex N.V. whichwent populace on the Nasdaqin 2011 , followed by a secondary listingthree class lateron theMoscow Exchange .
Yandex N.V. was doing well as a public troupe , make a rating of $ 31 billion at the end of 2021 before the Russia - Ukraine conflict kickstarted a series of global sanctions against company in the region , and also individual . Yandex Centennial State - beginner and CEOArkady Volozhwasforced to resignafter the European Union placed him on a sanctions lean , although he wasremoved from the listin March 2024 , which pave the agency for his return as CEO of the next version of Yandex N.V.
That next version is Nebius , and its line of work is based on one of Yandex N.V. ’s few remain plus outside of Russia : a Finnish datum center and AI cloud business calledNebius AI . The unexampled entityformally emerged back in July , sketch its plans to be a “ European AI compute drawing card , ” similar to somethinglike CoreWeave — a company that is alsoin the thick of expand into Europe , grow a long ton of fairness and debt nut - route .
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While the Nasdaq had said in 2022 that itwould delist Yandex and several otherRussian - affiliated fellowship , Yandex appealed and theNasdaq agreedto uphold its listing — but kept a halt on trading as it went about sever its Russian ties . With those ties terminated before this yr , and $ 2 billion in the money box from sell its Russian assets , Volozh said at the time that he signify to continue Nebius as a public company , as it was an easy and cheaper way to access majuscule , in what is a very Washington - intensive business enterprise .
“ Our ambition is to build one of the world ’s largest specializer AI infrastructure occupation , ” Volozh say in a statement . “ This requires access to technical expertness , graphics processing building block and capital . These are precisely what we have . ”
Nebius enjoin its Class A ordinary share will resume trading on Monday , October 21 , 2024 .
