Nebius AI, a firm specializing in AI infrastructure and GPU renting, has successfully raised $700 million in an oversubscribed financing round, with contributions from Nvidia and other investors. The funding aims to support Nebius's expansion into the United States, where the company plans to establish a GPU cluster in Kansas City, set to become operational in early 2025. In a related development, Nscale, another player in the AI sector, has raised $155 million to enhance its AI-ready data centers and GPU infrastructure across Europe and North America.