AI infrastructure firm Nebius Group has secured $700 million in a private funding round led by investors such as Nvidia, Accel, and Orbis Investments. The financing marks a critical milestone for the company,

The funding is expected to aid Nebius in expanding the clusters of GPUs, cloud platforms and other tools for AI developers.

The company this week announced that it has entered into definitive agreements for a $700 million private placement financing from a group of institutional and accredited investors, including participation from private equity firm Accel, Nvidia, and certain accounts managed by Orbis Investments.