The company this week announced that it has entered into definitive agreements for a $700 million private placement financing from a group of institutional and accredited investors, including participation from private equity firm Accel, Nvidia, and certain accounts managed by Orbis Investments.

The funding is expected to aid Nebius in expanding the clusters of GPUs, cloud platforms and other tools for AI developers.

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,

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

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.

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