AI cloud firm Nebius Group expects up to $1 bln in ARR in 2025

Reuters

2024-10-19

Oct 18 (Reuters) - AI infrastructure firm Nebius Group

expects to make annual recurring revenue of $500 million to $1 billion in 2025, the company said on Friday before trading of its shares resumes on Nasdaq on Monday after a lengthy suspension.

Trading was suspended soon after Russia's February 2022 invasion of Ukraine, when the stock was traded under the

ticker of Russian internet giant Yandex through its Amsterdam-based parent company. In July, Nebius emerged following a $5.4-billion deal to split Yandex's Russian and international assets.

(Reporting by Alexander Marrow)

((alexander.marrow@thomsonreuters.com;))

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