Goldman Sachs Buys $4.4 Billion Stake in Yandex Creator Nebius

Goldman Sachs has become one of the largest shareholders of Nebius, a company building data centers for artificial intelligence. According to the U.S. Securities and Exchange Commission (SEC), at the end of June 2026 Goldman Sachs held 6.2% of Nebius shares, and by the end of July 2026 this stake increased to 9.1%. The market value of this stake is $4.46 billion. In 2024, Nebius agreed to appoint Goldman Sachs as exclusive financial advisor for finding investment opportunities in AI infrastructure. In 2026, Goldman Sachs named Nebius among beneficiaries of the ongoing boom in AI infrastructure investments. According to Business Insider, other companies in this list include Apple, Oracle, Fortinet, MongoDB, Broadcom, Microchip Technology, NXP Semiconductors, Advanced Micro Devices, Analog Devices, etc. Nebius (formerly Yandex) is registered in the Netherlands and historically owned the Russian Yandex. In 2024, MKPAO Yandex was sold to a consortium of Russian investors for 475 billion rubles. Yandex retained a number of startups: Nebius AI (graphics computing in AI), self-driving transport developer Avride, educational platform Tirpleten, and others. The company was renamed Nebius and focused on building AI data centers in the US and Europe. Yandex founder Arkady Volozh returned to lead Nebius. He is also the largest shareholder: the Lastar trust acting in his interests holds 11.3% of the company's shares, which corresponds to 51.6% of total votes. Another 1.3% of shares (7.1% of total votes) are held by one of the oldest Yandex employees, Vladimir Ivanov. In 2025, Nebius revenue grew almost sixfold to $529.8 million. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was negative at minus $64.9 million, but this loss reduced by 3.5 times. The company posted a net profit of $29 million (compared to a loss of $352 million in 2024), while adjusted net loss almost doubled to $446.7 million.