Which business units contributed most to Nebius Group's 2024 revenue?

Nebius Group's 2024 revenue was significantly contributed by its AI Infrastructure business, as indicated by the following: 1. **AI Infrastructure Business Growth**: Nebius Group's revenue surged by a robust 1.7-fold in Q3 2024, reaching $43.3 million. This growth was largely driven by its AI infrastructure business, which experienced a 2.7-fold increase from the previous quarter. 2. **Strategic Investments and Product Launches**: The company's strategic investments in AI infrastructure and innovative product launches have positioned it well for further growth in the rapidly evolving AI market. Nebius is expanding its GPU cluster capabilities in Europe to support more AI model developments. 3. **Capital Expenditure**: Nebius anticipates capital expenditure in the fourth quarter to exceed $387.6 million, which is significantly higher than the amount spent in the first nine months of the year. This expenditure is primarily related to the procurement of graphics processing units (GPUs) and data center capacity expansion. 4. **Market Positioning**: Nebius is aiming to capture a share of the lucrative market for artificial intelligence and cloud infrastructure. The company's core business involves providing Nvidia GPUs and AI cloud services, which are essential for AI developers to build, tune, and run their models. In conclusion, Nebius Group's AI Infrastructure business was the primary contributor to its 2024 revenue, driven by strategic investments, product innovations, and strong demand for AI infrastructure.