Rebranded Yandex Plans Share Buyback Amid New AI Focus
- Yandex NV, now known as Nebius, finalized sale of Russian unit
- Firm will build new data centers as it aims to ride AI ‘wave’
This article is for subscribers only.
Nebius Group, the recently re-named Yandex NV that’s fresh off the sale of its Russian business, is planning a share buyback as the technology company rebuilds with an aim of becoming the largest commercial artificial intelligence infrastructure provider in Europe.
“We are a different company now,” Arkady Volozh, the Dutch-registered technology firm’s founder and chief, said in an interview from Amsterdam. “We hope that investors will want to go with us in the new direction, but those who don’t should be able to leave.”