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Eleven-chapter profile of Nebius — the Yandex spinoff that became a European-headquartered NASDAQ-listed neocloud. Gold-tier in ClusterMAX 2.0. Major Microsoft and Meta multi-year commitments. NBIS ticker.

Scope & audience

Nebius's corporate history (the Yandex spin, the relisting), infrastructure footprint, product surface, customer commitments, strengths and weaknesses, and where the company goes as a public-market neocloud.

Key framings to carry

  1. The corporate history is the story. Few neoclouds have an origin like Nebius's. The Yandex engineering DNA is real; the geopolitical complexity of the spin matters for how you understand the company.
  2. European-anchored is unusual. Most neoclouds are US-centric. Nebius's European data-residency story matters for EU customers with sovereignty requirements.
  3. Public-company posture changes everything. NBIS-listed means quarterly disclosures, public investor pressure, and a different financial dance than private competitors.

Reading order

01 (history) → 02 (infrastructure) → 03 (product surface) → 04 (major customer deals) → 05–08 (operational, customers, strengths) → 09–10 (financials + outlook).