Nebius is a European cloud and AI infrastructure providerwhich was founded in 2023 as a spin-off from Yandexwas founded in 2023.
👉 Yandex is considered the "Google of Russia" - a tech conglomerate with a search engine, maps, ride-hailing, e-commerce and cloud division.
After the Russian war of aggression against Ukraine, Yandex came under massive geopolitical pressure:
- Sanctions prevented partnerships & hardware deliveries.
- International investors withdrew.
- Business outside Russia was barely viable.
The solution:
Spin-off of the international assets (Cloud, AI, Data) into an independent company → Nebius.
This enabled the promising cloud business in Europe and Israel independently - without a direct link to Russia.
🔎 What does Nebius do?
Nebius sees itself as a cloud and AI infrastructure platformdesigned specifically for European companies and developers tailored for European companies and developers.
Core areas:
➡️ Cloud infrastructure - Data centers, storage & compute for enterprise customers
➡️ AI/ML services - Training & deployment of large AI models, GPU clusters
➡️ Data Solutions - Databases, analytics & developer tools
➡️ Edge & Hybrid Cloud - Focus on security, compliance & EU regulations
💡 So Nebius doesn't just want to be a small hyperscaler, but a fast, specialized alternative to AWS, Azure & Google Cloud - with a clear European DNA.
📊 Figures & growth (Q2 2025)
- Turnover: +52 % YoY 🚀
- ARR (Annual Recurring Revenue): +60 % YoY
- Customer base: >25,000 active customers (increasing)
- Partner network: SAP, Siemens & European SMEs
- Rule of 40: ~112 % → clear hypergrowth signal
Particularly interesting: Nebius is currently growing faster than AWS and Google Cloud in their development stage at that time.
🚀 Opportunities
✅ Focus on Europe ("digital sovereignty") 🌍 - Many companies and countries want alternatives to US big tech, especially for sensitive data. Nebius can score strategically here.
✅ AI boom ⚡ - GPU computing & AI services are currently the biggest bottleneck in the tech ecosystem. Nebius delivers cloud infrastructure specifically designed for AI workloads optimized for AI workloads.
✅ Agility 🏃♂️ - Smaller & more flexible than hyperscalers → faster in niches & more innovative in services.
⚠️ Risks
🔴 Brutal competitionAWS, Azure & Google Cloud dominate with huge budgets and ecosystems.
🔴 Capital requirementsCloud infrastructure is highly CAPEX intensive (billions for data centers, hardware, fiber). An "eternal hunger for investment".
🔴 Past with Yandex: Even if Nebius is formally independent, the geopolitical stamp → remains a potential reputational risk.
💡 Conclusion & investment thesis
Nebius is a speculative bet on two megatrends:
➡️ Cloud sovereignty in Europe
➡️ Explosion in demand for AI infrastructure
👉 Will Nebius succeed in establishing itself as the European champion alongside AWS, Azure & Google, massive upside awaits.
👉 Still very risky, but with hypergrowth potential and a story that fits perfectly into the geopolitical times.
Have you $NBIS (+3.32%) already in your portfolio or on your watchlist?
And do you believe that Nebius really has the potential to become the European cloud champion to take off?
