on Yandex N.V. (NASDAQ:YNDX)
Nebius Group Set to Resume Nasdaq Trading and Updates Investors
Nebius Group N.V. has announced the resumption of trading of its Class A ordinary shares on Nasdaq, starting October 21, 2024. The company, previously known as Yandex N.V., paused trading in February 2022 due to geopolitical tensions but has since severed ties with Russia and rebranded. Its shares will now trade under the ticker "NBIS".
In conjunction, Nebius will release a detailed investor presentation and webcast on October 18, 2024, providing more insights into its ongoing projects. Financial results for Q3 2024 will be disclosed later, on October 31, 2024.
Arkady Volozh, CEO, emphasized the company's ambition to expand its AI infrastructure, supported by a $2 billion cash position and increasing GPU clusters. Nebius aims for a revenue of up to $190 million by year-end 2024.
Goldman Sachs continues to advise Nebius on strategic options to boost AI infrastructure investment.
R. H.
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