NEBIUS, the technology and artificial intelligence company formerly known as Yandex, witnessed a significant pre-market surge of 7.93% on Thursday. This rally can be attributed to the company securing a substantial $700 million investment from chip giant Nvidia.
The investment from Nvidia is expected to provide NEBIUS with the necessary resources and cutting-edge hardware and software solutions to drive its growth ambitions. The company aims to generate $1 billion in revenue from its global operations, with a particular emphasis on areas such as autonomous driving, robotics, and generative AI.
After severing ties with its Russia-based operations following the invasion of Ukraine, NEBIUS has been undergoing a strategic transformation. The company is now focused on expanding its AI and technology offerings globally, and the investment from Nvidia is seen as a significant boost to these plans.
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