AI infrastructure firm Nebius Group (NBIS.O) has projected a sharp rise in annual recurring revenue, forecasting between $500 million and $1 billion by 2025, ahead of its return to Nasdaq trading on Monday following an extended suspension. Trading was halted in early 2022 after Russia’s invasion of Ukraine when Nebius was still part of Russian internet giant Yandex, trading under its Amsterdam-based parent company.
In July, Nebius emerged as an independent European tech firm, following a $5.4 billion asset split that divided Yandex’s Russian and international operations. Once valued at over $30 billion before the war, Yandex’s international spin-off, Nebius, now focuses on AI infrastructure, data labeling, and autonomous driving technology.
However, there is uncertainty surrounding how Nebius shares will perform after such a long trading suspension and the company’s significant transformation. Some investors have reportedly already written off their stakes.
Nebius provided its most comprehensive update in a 98-page document released on Friday, accompanied by a video presentation. In the video, Nebius Chairman John Boynton expressed optimism about the company’s future in the fast-evolving AI sector.
“We are at the very beginning of the AI revolution,” Boynton said. “While no one can predict which business models or technologies will dominate, one thing is clear: demand for AI infrastructure will be massive and enduring. This is where Nebius aims to thrive.”
CEO Arkady Volozh echoed this bullish sentiment, highlighting his successful history of building Yandex and predicting significant growth in the AI industry. He emphasized that computational power will be central to this future expansion.
Nebius also revealed plans to deploy more than 20,000 graphics processing units at its data center in Finland by the end of the year, underscoring the company’s push to establish a strong presence in the AI infrastructure space.
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