Is Cloud.ru profitable in 2025?

Yes. Cloud.ru reported FY2025 net profit of ₽14.7 billion, up 86% from ₽7.9 billion in 2024, on revenue of ₽76.5 billion (+50% YoY), with a 76% EBITDA margin, per its own report dated 2026-04-09.

Who owns Cloud.ru now that Sberbank sold its stake?

Since May 2022, Cloud.ru (then SberCloud) has been owned by Noviye Vozmozhnosti (New Opportunities) JSC, a holding controlled by Tatyana Portnykh, after Sberbank divested amid Western sanctions, though it still runs on Sber's GigaChat ecosystem.

Is Cloud.ru the biggest cloud provider in Russia?

Cloud.ru claims the top spot in Russia's IaaS market by revenue share in 2024 (ahead of Rostelecom's RTK-DC) per iKS-Consulting/Statista, but a separate website-tech-footprint dataset (wmtips, 2026-04-27) shows it far behind Selectel and Yandex Cloud, so leadership is contested.

Could AI replace what Cloud.ru does?

Unlikely soon. Cloud.ru's AI and related services became its largest revenue segment in 2025 at over ₽41 billion (+73% YoY), and its physical data centers plus Russia's data-localization law (242-FZ) create durable barriers AI tools alone cannot replicate.

Who is Cloud.ru's biggest competitor?

Yandex Cloud is the closest rival, reporting ₽27.6 billion revenue in 2025 (+39% YoY) with 51,000 customers and four straight years of positive EBITDA, per Yandex's own 2026-03-11 report, though smaller than Cloud.ru's ₽76.5 billion.

Will Cloud.ru go public?

No IPO has been announced. As of the brief's compilation on 2026-07-22, Cloud.ru remains privately held under Noviye Vozmozhnosti JSC with no confirmed public listing plans; parent-adjacent Sberbank trades separately on the Moscow Exchange.

Telecom operators · subsidiary of Noviye Vozmozhnosti JSC (controlled by Tatyana Portnykh; Sberbank divested majority stake May 2022 but Cloud.ru remains operationally integrated with Sber ecosystem, GigaChat models, and banking infrastructure) · Russia

Cloud.ru

cloud.ru ↗

Russian cloud and AI infrastructure provider, formerly SberCloud, now Cloud.ru.

Defensible for now

Assessed 22 July 2026 · Evidence as of 22 July 2026

Real protection, with named pressure against it.

On the recordSince 22 July 2026 · Checkable from 2027 · Every call on the record Checkpoint: Moscow data center commissioning target

The call

Cloud.ru grows fast behind Russia's sanctions wall, but its future rests on GPU imports holding up and Yandex Cloud not pulling ahead in AI.

Cloud.ru rents computing power and AI tools to Russian businesses, making strong profits and growing at 50% per year. It is hard for Western competitors like Amazon or Microsoft to challenge because Russia's laws require data to stay inside the country, but homegrown rivals like Yandex Cloud and VK Cloud are also growing, and it is unclear who is actually winning. The biggest unknown is whether Cloud.ru can get enough computer chips (GPUs) to keep its AI business growing, since international sanctions make them harder to find.

Why

AI pressure: Yandex Cloud with YandexGPT, plus Sber's own GigaChat ecosystem. Rival Russian clouds are bundling their own large language models, which could pull AI workloads away from Cloud.ru's GPU rental business. Could AI do the core job? Unlikely.

Bigger players: Yandex Cloud. Yandex Cloud already competes for the same enterprise IaaS and AI infrastructure deals inside Russia, backed by a bigger parent ecosystem. Could a giant copy it? No, they are blocked.

What protects it. Sanctions and Federal Law 242-FZ data localization keep AWS, Azure, and Google Cloud out of Russia, leaving the field to domestic players.

What would change this call

Cloud.ru's Moscow data center reaches or misses 2027 commissioning target. Shows whether capacity expansion keeps pace with AI-driven demand growth.
Yandex Cloud publishes 2026 revenue or market-share figures relative to Cloud.ru. Would confirm or contradict Cloud.ru's claimed #1 domestic IaaS position.
New sanctions rules on GPU parallel imports to Russia take effect. Would show whether Cloud.ru's AI segment growth (+73% YoY) can be sustained.

Key numbers

FY2025 revenue ₽76.5B, up 50% YoY (2025-12-31)
FY2025 net profit ₽14.7B, up 86% YoY (2025-12-31)
AI segment revenue ₽41B+, up 73% YoY, now largest unit (2025-12-31)

Named risks

GPU supply contraction via parallel-import sanctions could throttle AI segment growth. Severity: high
Opaque private ownership under Noviye Vozmozhnosti with no IPO path or disclosed valuation. Severity: medium
Conflicting market-share datasets (Statista vs wmtips) make claimed domestic leadership unresolved. Severity: medium
Fast AI release cadence from Sber (GigaChat) and Yandex (YandexGPT) could erode differentiation. Severity: medium
New Moscow data center execution risk with ₽8-12B capex targeted for 2027. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Yandex Cloud	gaining on	Revenue grew 39% YoY to ₽27.6B in 2025, EBITDA-positive four straight years (2026-03-11)
Rostelecom RTK-DC	contesting	Cloud.ru ranked #1 ahead of RTK-DC in 2024 IaaS revenue share per Statista (2025-08-19)
Selectel	contesting	wmtips website-footprint data shows Selectel ~50% share vs Cloud.ru ~1% (2026-04-27), disputing Cloud.ru's revenue-based lead
VK Cloud	contesting	Named as direct domestic peer competing for Russian enterprise cloud accounts, no share data given

Questions people ask

Is Cloud.ru profitable in 2025?: Yes. Cloud.ru reported FY2025 net profit of ₽14.7 billion, up 86% from ₽7.9 billion in 2024, on revenue of ₽76.5 billion (+50% YoY), with a 76% EBITDA margin, per its own report dated 2026-04-09.
Who owns Cloud.ru now that Sberbank sold its stake?: Since May 2022, Cloud.ru (then SberCloud) has been owned by Noviye Vozmozhnosti (New Opportunities) JSC, a holding controlled by Tatyana Portnykh, after Sberbank divested amid Western sanctions, though it still runs on Sber's GigaChat ecosystem.
Is Cloud.ru the biggest cloud provider in Russia?: Cloud.ru claims the top spot in Russia's IaaS market by revenue share in 2024 (ahead of Rostelecom's RTK-DC) per iKS-Consulting/Statista, but a separate website-tech-footprint dataset (wmtips, 2026-04-27) shows it far behind Selectel and Yandex Cloud, so leadership is contested.
Could AI replace what Cloud.ru does?: Unlikely soon. Cloud.ru's AI and related services became its largest revenue segment in 2025 at over ₽41 billion (+73% YoY), and its physical data centers plus Russia's data-localization law (242-FZ) create durable barriers AI tools alone cannot replicate.
Who is Cloud.ru's biggest competitor?: Yandex Cloud is the closest rival, reporting ₽27.6 billion revenue in 2025 (+39% YoY) with 51,000 customers and four straight years of positive EBITDA, per Yandex's own 2026-03-11 report, though smaller than Cloud.ru's ₽76.5 billion.
Will Cloud.ru go public?: No IPO has been announced. As of the brief's compilation on 2026-07-22, Cloud.ru remains privately held under Noviye Vozmozhnosti JSC with no confirmed public listing plans; parent-adjacent Sberbank trades separately on the Moscow Exchange.

Timeline

2026-07-13Sber launches GigaChat 3.5 Ultra, layered on Cloud.ru-adjacent AI infrastructure
2026-06-25Cloud.ru begins Moscow data center construction, ₽8-12B, 2027 target
2026-04-09Cloud.ru reports FY2025 net profit ₽14.7B, up 86% YoY
2026-03-30Sber presents GigaChat Ultra AI assistant
2026-03-11Yandex Cloud reports FY2025 revenue ₽27.6B, up 39% YoY
2025-09-15Cloud.ru launches Claudia (Клаудия) AI operations assistant
2023-11-29SberCloud rebrands to Cloud.ru
2022-05-20Sberbank divests SberCloud stake to Noviye Vozmozhnosti JSC

Revision history

22 July 2026

First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.

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