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Yandex founder Arkady Volozh is launching Nebius Group, an AI cloud infrastructure company aimed at becoming a European leader in AI technology. The company will focus on providing a platform for developers to train AI models and employ over 1,300 people, mostly former Yandex employees. Nebius Group's vision includes building various businesses under individual brands, such as data for generative AI and self-driving technology for cars and delivery robots.
The launch of Nebius Group follows Yandex's successful sale of its Russian assets in a $5.4 billion deal, marking a significant corporate exit from the country. Arkady Volozh emphasized the importance of talent in the global AI race, highlighting the skilled workforce in Europe as a key asset for innovation. The company plans to make substantial capital investments, leveraging its $2.5 billion cash reserve with no debt to fuel its growth and development.
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