FAQ

Nebius is a technology company building full-stack infrastructure to service explosive growth of the global AI industry, including large-scale GPU clusters, cloud platforms, and tools and services for AI developers. Headquartered in Amsterdam and listed on Nasdaq, the company has a global footprint with R&D hubs and offices across Europe, North America and Israel.

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Nebius' core business is an AI-centric cloud platform built for intensive AI/ML workloads. With proprietary cloud software architecture and hardware designed in-house (including servers, racks and data centre design), Nebius provides AI and ML practitioners the compute, storage, managed services and tools they need to build, tune and run their models.

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The group also operates additional three businesses under their own distinctive brands:

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• Toloka AI – data partner for all stages of AI development from training to evaluation: humans training machines;
• Avride -  one of the world’s most experienced self-driving teams: driverless cars and delivery robots;‍
• TripleTen - a leading edtech platform specialising in reskilling individuals for successful careers in tech.

The Nebius Group is built on the foundation of Yandex N.V., following the divestment by Yandex N.V., a Dutch public company, of all of its Russian and Russia-related assets.

Nebius Group is led by Arkady Volozh, the tech entrepreneur and visionary co-founder of Yandex. The group’s management team and Board of Directors brings decades of global experience in founding and growing successful tech businesses internationally. An SEC reporting company, Nebius Group is managed to the best standards of Dutch and international corporate governance.

Our corporate HQ is in Amsterdam, the Netherlands. We also have R&D and Engineering hubs, and offices in approximately a dozen countries across Europe, North America and Israel.

As of June 30, 2024, the group employed around 1,300 people.

The core of Nebius is an AI-centric cloud platform building large, cost-efficient GPU clusters to service the explosive growth of the global AI industry. With proprietary cloud software architecture and hardware designed in-house (including servers, racks and data center design), Nebius AI gives AI and ML developers the compute, storage, managed services and tools they need for training, inference and data processing. Nebius AI’s proprietary data center in Finland houses one of the Europe’s most powerful commercially available supercomputers, which ranks as the 19th most powerful globally.

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The group operates three additional businesses under their own distinctive brands:

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• Toloka AI is a data partner for all stages of AI development from training to evaluation. In 2023, Toloka successfully pivoted its business model to providing high-quality, human-annotated data for the fast-growing Generative AI and focusing on three key stages of LLM production: fine-tuning, alignment and evaluation. Toloka leverages its past experience in data labeling and crowdsourcing to develop a proprietary tech platform focused on highly-skilled contributors and provide GenAI expert data at scale

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• Avride develops autonomous driving technology for autonomous cars and delivery robots, building on a successful track record of delivering and commercializing projects across North America and Asia over the past seven years. Avride is uniquely positioned in the industry by simultaneously developing autonomous driving technology for cars and delivery robots with potential use cases ranging from targeting implementation within sectors such as ride-hailing, logistics, e-commerce and food and grocery delivery, with use cases including passenger rides, hub-to-warehouse deliveries and package deliveries to end customers.

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• TripleTen is a leading edtech platform developed by a team with over 15 years of experience, specializing in reskilling individuals for successful careers in tech. It offers five immersive study tracks (Software Engineering, Data Science, Business Intelligence, Analytics, Cybersecurity and Quality Assurance) and has recently launched B2B AI tech courses targeting companies seeking to close IT skills gaps, embrace AI and retain talent. TripleTen is a top-rated US bootcamp featuring high employment rate, salaries and student feedback, recognized as best overall provider in Fortune magazine’s ranking of software engineering bootcamps in June 2024. 

We see a significant opportunity to become the leading AI infrastructure player in Europe, with multi-billion-dollar annual revenue potential. Achieving this will require substantial capital investments, which we plan to fund through a combination of sources, including Nebius Group’s balance sheet, as well as public and private equity or debt.

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Since going public in 2011, we have built and maintained a strong, trusted relationship with the capital markets, and our track record as good stewards of capital has been consistently rewarded. Preserving this positive reputation will be a key priority as we pursue the next major market opportunity.

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We will remain flexible in our strategic approach to the future development of our three additional businesses, exploring opportunities for external investment or co-investment from strategic or financial investors where we believe it will enhance value for our shareholders.

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Following the divestment of the Russian and Russia-related assets, we have no connections to Russia.

The last day of the company’s fiscal year is December 31.

Yes, quarterly reports are usually published at the end of April-mid May (for Q1), end of July-mid August (for Q2) and end of October – mid November (for Q3). Combined Q4 and full year results are usually released in the second half of February or early March of the year following the end of the fiscal year. Our latest financial results can be found on this page.

Our Class A Shares have been listed on NASDAQ since 2011. Trading in our securities on Nasdaq has been halted since February 2022. The start of trading is still to be confirmed - we are currently in discussion with Nasdaq about the timing of the potential trading resumption and will update our shareholders as soon as we can.

Our capital structure comprises Class A, Class B, and Class C shares. Class A shares, with a par value of €0.01 per share, hold one vote each and share dividends with Class B shares. Class B shares, valued at €0.10 per share, carry ten votes each and can only be transferred to qualified holders, requiring conversion to Class A shares for sale. Class C shares, valued at €0.09 per share, grant nine votes each and serve technical conversion purposes.

We have no current intention to pay dividends on our ordinary shares.

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You can reach the Investor Relations team via e-mail at [email protected].

The members of the Board of Directors are listed here.

Five out of eight serving members of the Board meet the applicable Nasdaq independence criteria.

The Dutch Corporate Governance Code requires that companies either “comply or explain” any noncompliance, which is permitted by the Code. In light of our compliance with Nasdaq requirements, we have elected not to comply with all of the provisions of the Code. While we do not follow all the provisions of the Code, we believe that non-compliance with certain of its recommendations does not have a negative impact on the Company's activities. For the full text of Nasdaq’s corporate governance rules, as well as applicable rules and regulations made public by the SEC, see Nasdaq Listing Rules and SEC website, respectively.

Of course. Our Nominating and Corporate Governance Committee is tasked, among other things, with overseeing ESG-related affairs. The Board of Directors routinely reviews reports from this Committee, covering areas of focus and key initiatives with regard to sustainability.

We are committed to doing business responsibly and sustainably at every stage of our journey to building a leading full-stack AI infrastructure provider, and to ensuring that our products and solutions make a positive societal impact. Our sustainability-related initiatives are overseen by the Board’s Nominating and Corporate Governance Committee, coordinated by the Group’s sustainability manager, and monitored by executive teams.

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Key areas of focus include:

• Information security & offline safety. We are dedicated to safeguarding both the virtual and physical realms to ensure a seamless and secure experience for our users. Our services adhere to the highest information security standards, and we work to establish a comprehensive array of safety controls in our pioneering work with autonomous technologies.

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• Sustainability of computing. We invest in the energy efficiency of our computing infrastructure to make sure we do more with fewer resources, and to reduce our environmental footprint. Our data center in Finland leverages proprietary in-house design and state-of-the-art infrastructure, and has consistently demonstrated a power usage efficiency (PUE) of below 1.2 – consuming 3-5 times less overhead energy compared to the global average. The data center features innovative free cooling and heat recovery systems, and hosts oneo of Europe’s most energy efficient and most potent commercially available supercomputers (Green500).

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• Social inclusion. By creating a healthy and fair work environment for people devoted to driving IT innovation, and through a range our digital solutions, we strive to shape a more diverse, dynamic, and accessible tech sector. For example, our bootcamp, TripleTen, is designed to bridge the tech skills gap and empower individuals without a technical degree, while Toloka AI provides flexible earnings and the opportunity for millions of individuals to contribute to AI development.

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For years, our data center in Finland has maintained energy efficiency levels above the global average. Over the past five years, the average annual power usage effectiveness (PUE) of our facility has consistently remained below 1.2, and has reached 1.1 under high IT loads (where a PUE of 1.0 indicates perfect efficiency in which 100% of the facility's power is delivered to IT equipment). In comparison, the global average PUE in 2023 stood at 1.58 in 2023 (Uptime Institute, 2023).

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The data center features computing infrastructure designed in-house. Beyond delivering technical advantages and cost optimization, this also improves energy efficiency. The data center houses ISEG, one of Europe’s most powerful commercially available supercomputers and the 16th most powerful globally (Top 500 list, June 2024). While supercomputing is generally an energy-intensive process, ISEG is designed to optimize energy use. It consumes less energy for computations than servers with standard architecture, while delivering better performance. With 35.26 GFlops per watt-second of energy consumed, it ranks #24 in terms of energy efficiency among supercomputers globally and among top 5% supercomputers in Europe (Green 500 list, June 2024).

To ensure enhanced cost-effectiveness and reduced environmental impact, our data center in Finland employs free cooling. It was one of the first ones in the region to implement an innovative system that recovers waste heat to warm residential buildings in the nearby town. Please read more about these innovations in the case study.

As a provider of digital services, we prioritize information security and adhere to rigorous standards and best practices. Dedicated teams of cybersecurity engineers, both at the holding company level and within all of our business units, oversee cybersecurity matters. We focus on preventive actions and have implemented measures to detect and address vulnerabilities proactively. These measures include regular upgrades of our cybersecurity systems and procedures to meet the highest standards; continuous monitoring of system performance, including vulnerability testing to identify potential risks in specific operations; and engagement of third-party audits to ensure comprehensive security.

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• Employs a multilayered cybersecurity approach known as ‘”defense in depth” to ensure security across the data life cycle, and has a dedicated team overseeing these efforts.
• At the facility and hardware level, focuses on physical security of its proprietary data center in Finland and platform security. The data center features stringent perimeter security, robust physical access controls, and 24/7 video surveillance to prevent unauthorized access to servers hosting cloud computing.
• At the cloud platform level, adheres to Security Development Lifecycle and internal policies, including standards and procedures for privacy by design and cryptography.
• Continuously monitors platform resilience through external audits and certifications. Nebius operations conform with ISO 27001, ISO 27701, ISO 27017 and ISO 27018 requirements for information security controls, including those relevant to cloud services. ISO certification is already completed in Israel and is planned for EU-based operations. All operations are compliant with local privacy legislation, including GDPR in the EU and Israel’s Privacy Protection Law.
• Customer data, both stored and in transfer, are encrypted.
• Develops tools to assist customers in enhancing the security of their infrastructure. For instance, the Identity and Access Management tool enables users to control and configure access rights to virtual machines and other cloud resources.

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Our three other businesses  implement specific cybersecurity measures tailored to their respective operations.

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• Toloka AI
  • Certified to ISO 27001 and ISO 27701; SOC2-, GDPR- and HIPAA-compliant.
  • Follows a secure development process (SDLC) to identify vulnerabilities during design and development, conducts regular code scanning for vulnerabilities, and ensures all engineers undergo annual training in secure code development.
  • Encrypts both stored and in-transit data, backs up data with geo-redundancy, and deletes data upon request at the end of a contract.
  • Offers several data storage options to meet customers’ data privacy needs: on Microsoft Azure servers in a location chosen by the customer (US, EU or Asia) or on the customer’s own premises (on-premises storage option).

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• Avride
  • Adheres to recognized guidelines such as the NIST Cybersecurity Framework.
  • Integrates cybersecurity controls across all aspects of system design, covering infrastructure, vehicle components, and external interfaces. Regular system design audits are conducted and seamlessly integrated into the product development lifecycle.
  • At the infrastructure level, utilizes third-party cloud solutions that meet all international standards, with servers located in the US and the EU.
  • For autonomous vehicles, implements multiple safeguards against unauthorized access, focusing on protecting critical points such as the primary computer. All driving computing tasks are performed autonomously on board the vehicle, with no remote access allowed.
  • Encrypts all external communication channels used to transmit information about the vehicle's location, system status, passenger communication, or for connecting to a remote assistant.

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• TripleTen
  • While no single security standard perfectly aligns with TripleTen’s operations, the company uses applicable guidelines from ISO27001, SOC2, and OWASP as benchmarks for its security protocols.
  • Adheres to the principles of “defense in depth”, multilayer protection of customer data and least privilege. The latter ensures that access to sensitive data is restricted to people who require it for their specific roles.
  • Has a vulnerability analysis platform to assess risks, conducts thorough code reviews, and undergoes external testing of resilience.
  • Entrusts well-established cloud services with data storage, with servers physically located in the US.

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