Nebius ECONOMIC

Research cut-off: 26 September 2026. “Nebius” means Nebius Group N.V. and, where specified, its controlled businesses. A statement that no public evidence was identified describes the research result; it does not establish that an activity never occurred.

Authoritative-list and settlement check

The OHCHR settlement-business database portal identifies a 2025 update, A/HRC/60/19. Nebius, Nebius Israel Ltd., Tavily/AlphaAI and Arkady Volozh were not identified as named entries in the consulted OHCHR material or in searches of A/HRC/59/23 and the named specialist-company databases. No public evidence identified of a Nebius operation, customer, facility or transaction in a West Bank, East Jerusalem or Golan Heights settlement. The Modi’in colocation announcement itself specifies Modi’in, without identifying a settlement location or customer.^{1, 2, 3, 4}

Supply Chain & Sourcing Relationships

Direct suppliers. Nebius describes its business as AI cloud infrastructure, with in-house platform design and NVIDIA-based computing equipment. Its October 2025 Israeli deployment specifies NVIDIA HGX B200 GPUs and Quantum InfiniBand networking. No public evidence identified of procurement from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors or another Israeli agricultural exporter, or of the specified produce categories.^{5, 6}

Importer of record and indirect supply. The 2024 subsidiary disclosure identifies Nebius Israel Ltd. as an Israeli group company, but does not identify an importer of record for the deployment. No public evidence identified of a dedicated regional import entity, third-party produce distributor, white-label produce route or recurring December–April agricultural sourcing pattern.⁷

Technology supply and intermediary. Nebius names NVIDIA as the equipment and platform partner for the 2025 Modi’in service. The announced facility is a colocation site; that description does not identify Nebius as the owner of its underlying real estate. No public evidence identified of a named settlement-based reseller or downstream customer for this deployment.⁵

Product Origin, Labeling & Regulatory Compliance

Settlement-origin goods and enforcement. No public evidence identified of Nebius selling agricultural goods, of goods labelled “Produce of Israel” or originating in the West Bank, Jordan Valley or Golan Heights, or of a DEFRA/customs origin-labelling finding against Nebius. Its disclosed product is AI cloud infrastructure and related services.^{6, 8}

Policy. No public evidence identified of a Nebius policy specifically addressing the sourcing or labelling of goods from occupied territories. No public evidence identified of a country-of-origin labelling enforcement action involving Nebius.

Investment, Capital & Financial Exposure

Direct Israeli investment. In May 2025, the Israel Innovation Authority selected Nebius to establish Israel’s national AI supercomputer. The authority described total project investment exceeding NIS 500 million, including NIS 160 million in government support. In October 2025, Nebius announced a Modi’in colocation deployment of 4,000 NVIDIA HGX B200 GPUs. In January 2026, the authority said the infrastructure was live and access applications had opened for eligible Israeli companies and researchers at reduced prices. These are post-July and post-November 2024 activities.^{9, 10, 5}

R&D. Nebius’s July 2024 launch announcement identified R&D and commercial hubs in Israel, Europe and the United States. Its October 2025 announcement continued to identify Israel among its R&D hubs. A 2025 on-site interview with co-founder Roman Chernin reported dozens of engineers in Tel Aviv and described Israeli and European engineering teams building Nebius’s cloud technology from scratch. This is evidence of product-development work in Israel, although the exact Israeli R&D headcount, budget and share of core platform development remain undisclosed. No separately priced Israeli accelerator investment or specific R&D-site ownership interest was identified.^{11, 5, 12}

Acquired Israeli operating companies. Nebius entered a merger agreement in February 2026 to acquire AlphaAI Technologies Inc., operating as Tavily. Its SEC Form 6-K says Tavily had a wholly owned Israeli subsidiary, the merger would make Tavily a wholly owned Nebius subsidiary, and transaction value was undisclosed. Nebius later described Tavily as acquired, and its June 2026 interim financial disclosure records the completed acquisition. This is controlling operating ownership through Tavily, distinct from a passive stake. Tavily develops agentic search; no public evidence identified of Israeli manufacturing, its Israeli subsidiary’s separate headcount or revenue, its acquisition price, or an IDF, defence or settlement customer. Nebius Israel Ltd. is an existing Israeli operating subsidiary, with no separately disclosed acquisition date or price. No other acquired Israeli operating company was verified in the reviewed records.^{13, 14, 15, 7}

Parent, principals and portfolios. Nebius Group N.V. is the Dutch parent. The 2025 Form 20-F reports that founder and CEO Arkady Volozh beneficially held about 52% of voting control at 31 March 2026. A 2025 interview report identifies him as an Israeli citizen living in Tel Aviv, and the header of his September 2026 SEC Form 4 lists a Tel Aviv mailing address. These sources establish an Israeli controlling shareholder; a mailing address alone does not prove tax residence or where he spends most of his time.^{8, 12, 16} Nebius’s biography records his investment and board service in Israeli Face.com, sold to Facebook in 2012; it does not establish a present holding. The group also reported participating in ClickHouse’s 2025 Series C, but the cited announcement does not establish an Israeli subsidiary or settlement investment. No public evidence identified of Nebius-held Israeli sovereign bonds, Israel Bonds, a settlement-company portfolio or an Israel-focused fund.^{17, 18}

State financing. Nebius is an AI infrastructure company, not a disclosed financial-sector underwriter. No public evidence identified of underwriting Israeli sovereign or war bonds, selling Israel Bonds, insurance of state or settlement activities, or direct financing of an OHCHR-listed enterprise.^{8, 1}

Operational Presence & Market Activity

Facilities and services. Nebius described Israeli R&D and commercial hubs in July 2024 and publicly launched AI Cloud at its Modi’in colocation facility in October 2025. Its February 2026 shareholder letter listed Israel among locations for additional planned capacity. A planned location is not itself evidence that a second site was operating at that date. No public evidence identified of a Nebius facility in occupied territory.^{11, 5, 19}

Employment and registration. Nebius Israel Ltd. appears in the group’s 2024 principal-subsidiary exhibit. A 2025 on-site report described dozens of engineers in Tel Aviv, without an exact current Israeli headcount or an Israel-specific payroll total. No local tax amount or Preferred Technology Enterprise designation was identified. The subsidiary’s existence and Volozh’s reported citizenship do not establish that the Dutch parent is Israeli tax-resident.^{7, 12}

Market position. Nebius described the October 2025 Modi’in deployment as one of Israel’s largest GPU clouds and said it would support Israeli startups, companies and research institutes. The Israel Innovation Authority selected Nebius for a national compute programme and in January 2026 identified it as the operating infrastructure provider. These statements establish a stated strategic role in Israeli AI infrastructure, without establishing market share or a particular end user’s activity.^{5, 9, 10}

Government relationship. The Innovation Authority’s selection, public support and subsidised access programme are a verified Israeli state linkage. The cited government notices describe national AI infrastructure for industry and research. No source reviewed identifies Nebius as an IDF supplier, a Project Nimbus contractor or a supplier to a named defence prime; no public evidence identified of such a contract.^{9, 10}

Corporate Structure & Foundational Ties

Origin and domicile. Nebius Group N.V. is a Dutch public company, headquartered in Amsterdam. The company launched its Nebius identity in July 2024 following divestment of its Russian businesses; it was not founded or originally incorporated in Israel as Nebius Group N.V. The group has Israeli operating and R&D activity, but no public evidence identified of an Israeli legal headquarters for the Dutch parent.^{8, 11, 20}

Israeli-nexus factors. Israeli founding: no public evidence identified. Israeli headquarters: the reported headquarters is Amsterdam. Principal place of management: a 2025 on-site report says Nebius is managed from Amsterdam while a significant portion of management works in Tel Aviv; that does not independently establish an Israeli principal place of management. Israeli parent tax residency or PTE status: no public evidence identified. Israeli controlling shareholder: Volozh’s approximately 52% voting control and reported Israeli citizenship meet that specific factual description; this does not establish the nationality of every shareholder or a Dutch-parent tax flow to Israel.^{8, 12, 16}

Governance and principals. The 2025 Form 20-F describes Volozh’s voting control and controlled-company status. Nebius’s board biography documents his historical Face.com investment. The 2025 AGM results report Class B shares with ten votes per share. No public evidence identified of an Israeli government ownership stake, government-appointed Nebius director, golden share or charter obligation aligning the group’s mission with Israeli state policy.^{8, 17, 21}

Profit Repatriation & Economic Contribution

Revenue attribution. Nebius reports group results and describes Israeli infrastructure, but the consulted disclosures do not isolate Israeli-customer revenue. No public evidence identified of a verified Israeli revenue amount or share for 2025–26.^{8, 15}

Flows and taxes. The Dutch parent controls Nebius Israel Ltd. and, following the Tavily acquisition, an additional Israeli subsidiary through Tavily. The cited filings do not establish the direction or amount of Israeli dividends, royalties, transfer pricing or profits, or the group’s Israeli tax contribution. No public evidence identified for those amounts.^{7, 13, 15}

Economic ecosystem role. The Innovation Authority reported a national infrastructure project exceeding NIS 500 million, with NIS 160 million in government support, and subsequently opened subsidised compute access on the operational Nebius infrastructure. Nebius described a 4,000-B200 local deployment. These establish participation in Israel’s AI infrastructure and public funding programme; they do not quantify Nebius’s Israeli profit or establish military or settlement use.^{9, 10, 5}