The founder of Yandex, Arkady Volozh, is investing around $270 million in UK-based artificial intelligence infrastructure through his company, Nebius Group. The initiative will establish AI data centres equipped with 4,000 Nvidia Blackwell graphics processors, aimed at boosting capabilities across finance, science and other sectors.
“Britain is a place where AI is created, tested and implemented in various industries. By working in this country, we get closer to startups, researchers and business leaders shaping the future,” said Volozh, Founder, Nebius Group.
This marks a pivotal moment for Nebius, which rebranded following the July 2024 divestiture of Yandex’s Russian operations. The $5.4 billion sale to a consortium of Russian investors severed its links to Russia, enabling Nebius to focus on international expansion. The company plans to manage seven AI clusters across six countries as it grows its European presence.
The move aligns with the UK’s ambition to cultivate a robust AI ecosystem. Nvidia CEO Jensen Huang recently pointed to the country’s depth of AI talent and startups such as DeepMind and Wayve, while calling attention to the need for greater sovereign infrastructure. “I think it’s just a wonderful place for investment,” said Huang.
Backed by $700 million in funding from venture capitalists and Nvidia, Nebius is positioning itself to compete with cloud leaders like AWS and Google Cloud. It projects revenue of up to $190 million by the end of this financial year, driven by demand for AI-ready data centres.
Challenges remain. The fast-moving AI infrastructure landscape demands a strong operational framework and a clear differentiator. The Yandex legacy brings technical expertise but also lingering scrutiny. Volozh, previously sanctioned by the European Union, saw those measures lifted in March 2024, clearing the way for his new venture.
Nebius’s UK investment reflects a broader story of resilience and renewal in global tech. Through partnerships and innovation, it seeks to contribute meaningfully to the UK’s role in shaping responsible and advanced AI.
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