Group 1 - A joint venture controlled by Russian billionaire Vladimir Potanin has acquired a 25% stake in IT infrastructure provider Selectel, valued at approximately 16 billion roubles ($206 million) [1][2] - The acquisition aims to enhance the development of home-grown artificial intelligence models in Russia, which President Vladimir Putin has emphasized as crucial for preserving national sovereignty [2] - T-Technologies, the owner of online lender T-Bank and a partner in the joint venture, stated that the purchase will enable the utilization of Selectel's extensive cloud infrastructure for AI product development [4] Group 2 - Selectel's revenue for the first nine months of 2025 increased by 42% year-on-year, reaching 13.5 billion roubles [4] - Potanin has also expanded his investments in the technology sector, including a 9.95% stake in internet giant Yandex, indicating a broader strategy to invest in technology and AI [3]
Russian billionaire Potanin acquires minority stake in cloud provider Selectel