Dutch cloud computing company Nebius has reportedly raised $700 million from investors including Nvidia.
The rebranded Russian internet company Yandex has sold its search engine and is now focusing on cloud computing services for its artificial intelligence (AI) operations, Bloomberg News reported Monday. (December 2nd).
CEO Arkady Volozh said the new funding will help the company expand its “GPU clusters,” a package of specialized AI chips and cloud services located in data centers.
Nebius rebranded after selling its Russian operations. According to Bloomberg, Nasdaq’s Yandex stock was suspended when Russia invaded Ukraine in 2022, while Nevius resumed trading in October.
The report also notes that the funding comes as major investors are pouring significant capital into technologies that support AI. For example, CoreWeave, which competes with Nebius and is also backed by Nvidia, plans to go public for $23 billion.
As PYMNTS wrote last month, generative artificial intelligence (GenAI) has become an important tool for chief financial officers (CFOs), who see this technology as essential to their organizations’ strategic and operational plans. .
According to the PYMNTS Intelligence report, “Most CFOs See Limited ROI from GenAI, but Increase Investment,” many CFOs are willing to invest in GenAI for moderate-impact tasks such as: Despite growing dependence, they report limited return on investment (ROI) for their AI efforts. Financial reporting and data visualization. Additionally, the survey found that many companies with at least $1 billion in annual revenue are committed to increasing their investment in GenAI in the coming year.
Recently, PYMNTS investigated how chief marketing officers (CMOs) are leveraging GenAI to improve customer service.
According to data from PYMNTS Intelligence, 97% of CMOs surveyed in July found technology highly effective for this purpose (compared to 72% in April).
“This surge highlights how GenAI is optimizing customer service workflows, rather than replacing human agents, as automated tools powered by generative AI handle routine queries and requests. , customer service teams can focus on complex issues that require human intervention,” writes PYMNTS. “This balance has proven particularly advantageous in the payments sector, where fast and accurate responses are critical to maintaining customer trust.”
Additionally, GenAI plays a key role in providing real-time automated responses to customer inquiries, but its effectiveness lies in its collaborative potential.
“For example, AI-driven chatbots may handle initial troubleshooting before escalating unresolved issues to human personnel,” PYMNTS writes. “These systems act as the first line of defense, reducing wait times and improving overall customer satisfaction while always leveraging human expertise.”
