Yandex parent company withdraws from Russia to secure large amount of NVIDIA GPUs
The parent company of Yandex, a Russian search engine founded in the 1990s, has completely spun off its operations in Russia. It is said that the company will retain its AI business and plans to triple the number of NVIDIA GPUs to improve performance.
'Russia's Google' exits the country — Yandex plans to triple its Nvidia GPU deployments | Tom's Hardware
Yandex split finalized as Russian assets sold in $5.4 bln deal | Reuters
Yandex was owned by the Dutch holding company Yandex NV, which was forced to sell Yandex after economic sanctions were imposed following Russia's invasion of Ukraine.
Russia's Google, Yandex, sells its Russian business, including search engine and ride-hailing services, to a Russian company for just half the company's value of 770 billion yen - GIGAZINE
by ermakov
Yandex NV was in talks to sell Yandex to a group of Russian investors, and it was revealed that the sale was completed on July 15, 2024.
Yandex NV plans to phase out the 'Yandex' brand by July 31, 2024. Yandex's cloud, data labeling, self-driving car, and education technology businesses will be taken over by Yandex NV and renamed 'Nebius Group.' Yandex NV Chairman John Boynton said, 'All ties to Russia have been severed with the sale.'
Nebius Group, like Yandex NV, is based in the Netherlands and is expected to be led by Yandex co-founder Arkady Volozh. The company is reportedly aiming to triple its NVIDIA GPU fleet and is seen as a challenger to Amazon and Google in the AI field.
The Russian investors who purchased Yandex shares have indicated their intention to continue the business under the name 'Yandex' and plan to start trading shares under the ticker YDEX on July 24, 2024.
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