Yandex (YNDX) has released an update.
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Yandex N.V., soon to be Nebius Group, reported Q2 2024 financials with a substantial 430% revenue increase compared to last year’s quarter and a net loss reduction by 47%. The company’s AI-centric cloud platform, Nebius AI, significantly boosted its revenue with a 60% quarter-over-quarter growth, attributing to expanded GPU capacity and a diversified client base. Additional ventures like Toloka AI and TripleTen show promising growth, while the edtech arm was named the best overall software engineering bootcamp by Fortune magazine.
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