AI cloud firm Nebius Group expects up to $1 billion in ARR in 2025


FILE PHOTO Words reading quotArtificial intelligence AIquot miniature of robot and toy hand are pictured in this illustration taken December 14 2023. REUTERSDado RuvicIllustrationFile Photo

FILE PHOTO: Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - AI infrastructure firm Nebius Group expects to make annual recurring revenue of $500 million to $1 billion in 2025, the company said on Friday before trading of its shares resumes on Nasdaq on Monday after a lengthy suspension.

Trading was suspended soon after Russia's February 2022 invasion of Ukraine, when the stock was traded under the ticker of Russian internet giant Yandex through its Amsterdam-based parent company. In July, Nebius emerged following a $5.4-billion deal to split Yandex's Russian and international assets.

(Reporting by Alexander Marrow)

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