The AI boom creates billionaires again: Former Yandex founder secures Microsoft contract, wealth increases by 1 billion dollars in a day.

On September 10, Jin10 reported that Arkady Volozh spent two years completely separating himself from the tech company Yandex, which placed him among the richest individuals in Russia. He eventually left Russia. Today, he has become the latest tycoon to gain wealth from the artificial intelligence boom. Volozh's Nebius Group NV announced that it will provide computing power access to Microsoft at its new data center in New Jersey over the next five years. The contract is worth up to $19.4 billion. Following this news, shares of Nebius, headquartered in Amsterdam, soared 49% in New York trading on Tuesday, closing at $95.72. Through a family trust, Volozh holds 13% of Nebius shares, currently valued at $2.9 billion, having increased by about $1 billion since the deal was announced. Since January of this year, the value of these shares has nearly doubled.