The Russian-founded tech giant Yandex has left Russia after finalizing one of the country’s most significant foreign corporate exits since the Russo-Ukraine war started. Reuters reports that Russian investors acquired the last of Yandex’s Russian assets, and the company has rebranded itself as the Dutch-based Nebius Group. The company is now working to triple its data center deployments of Nvidia chips.
The deal took around two years to complete and culminated in Russian investors paying $5.4 billion for the remaining 28% of Yandex NV (YNV) shares, which was still a bargain for the buyers. The Russian government demanded a discount of at least 50% on foreign asset sales.
