Rebranded Yandex Plans Share Buyback Amid New AI Focus

Nebius Group, the recently re-named Yandex NV that’s fresh off the sale of its Russian business, is planning a share buyback as the technology company rebuilds with an aim of becoming the largest commercial artificial intelligence infrastructure provider in Europe.

“We are a different company now,” Arkady Volozh, the Dutch-registered technology firm’s founder and chief, said in an interview from Amsterdam. “We hope that investors will want to go with us in the new direction, but those who don’t should be able to leave.”

Nebius’s planned share buyback will allow minority investors a choice to stay or exit the ...