Nebius CEO Arkady Volozh Is $1 Billion Richer After Microsoft AI Deal

Core Insights - Arkady Volozh, former head of Yandex, has transitioned to the artificial intelligence sector after disentangling from Yandex and leaving Russia [1][3] - Nebius Group NV, Volozh's new venture, has seen a significant increase in share value following a major contract with Microsoft worth up to $19.4 billion [2][4] Company Developments - Nebius Group NV's shares surged by 49% to $95.72 after announcing a five-year contract with Microsoft for data center capacity [2] - Volozh's 13% stake in Nebius is now valued at $2.9 billion, reflecting an increase of approximately $1 billion since the contract announcement [2] Market Context - The contract with Microsoft marks a strategic shift for Nebius, which previously focused on smaller businesses and startups [5] - Volozh anticipates securing more long-term contracts with major AI labs and tech companies, indicating a positive outlook for Nebius in the competitive data center market [5]