Russian tech giant Yandex to invest $400M in Türkiye
Yandex logo displayed on a phone screen and Russian flag displayed on a screen in the background are seen in this illustration photo taken in Krakow, Poland on March 14, 2022 (AA Photo)
Russian tech giant Yandex has announced a $400 million investment in Türkiye, aimed at localizing information technology products, expanding infrastructure and accelerating digital innovation.
This move is set to boost Türkiye’s tech sector, particularly in artificial intelligence (AI), machine learning and digital advertising.
Investment to create jobs, benefit local businesses
Yandex Türkiye CEO Alexander Popovskiy highlighted the company’s focus on developing hyperlocal products tailored to Turkish users. With the investment, personal data from Yandex’s services will be stored within Türkiye, ensuring compliance with local regulations.
Popovskiy noted that the localization effort will foster collaboration with Turkish tech firms and startups, with 40 Turkish startups already utilizing Yandex’s cloud and other services.
Popovskiy made comments about the investment in the LinkedIn platform and said: “Pleased to know from many positive comments how welcomed we are in Türkiye. We’ve been offering lots of innovative solutions to our Turkish users and even more are to follow.”
New AI-powered search engine for Türkiye
A new AI-powered search engine, specifically designed for Türkiye, will be launched in the coming months to improve search efficiency for Turkish users. This development is part of Yandex’s broader plan to support the country’s digital economy through advanced tech solutions and B2B partnerships.
Supporting growth in digital advertising and machine learning
Popovskiy emphasized that the $400 million investment will also drive growth in digital advertising and machine learning in Türkiye. Yandex’s digital advertising platform has already contributed to the growth of several local businesses, and the continued development of these services is expected to create job opportunities and strengthen the local tech ecosystem.
Yandex aims to remain a long-term business partner to Türkiye, with plans to develop existing technologies further and introduce new services.
