QazCode and MeetKai’s AI partnership could change the landscape of investing in VEON (VEON)

• In late November 2025, VEON Ltd. announced that its software company QazCode signed a collaboration agreement with MeetKai to develop and train large-scale language models for new AI-based digital products across Kazakhstan, Uzbekistan, Ukraine, Pakistan, and Bangladesh.
• The collaboration highlights VEON’s focus on creating AI solutions with deep local language capabilities and cultural understanding, with the aim of providing localized digital services to over 150 million customers.
• Explore how expanding local language AI development through QazCode and MeetKai’s partnership shapes VEON’s investment outlook.

Rare earth metals are the new gold rush. Find out which 35 stocks are leading the way.

VEON investment story summary

For those considering VEON, the key investment story is focused on the company’s transformation into a regionally focused digital service provider, aiming to achieve long-term growth through deeper regional integration and technology deployment. The new QazCode and MeetKai partnership reaffirms VEON’s ambition to lead in regionally relevant AI, but does not materially impact its most pressing near-term catalyst: maintaining local currency revenue growth while managing steep currency devaluations and margin pressures across key emerging markets.

The announcement that VEON has reaffirmed its 2025 revenue outlook, expecting growth of 13-15% in local currencies, is particularly relevant in this context as it demonstrates management’s commitment to achieving short-term financial targets despite recent operating losses and volatile local currency exposure. While the rollout of new AI-powered digital products through QazCode has the potential to expand VEON’s digital footprint, supporting growth and margin expansion amid continued significant investment and macroeconomic headwinds remains the core challenge that shareholders must monitor most closely.

In contrast, investors should be aware that if the rapid shift to digital services increases operating costs or…

Read the full article on VEON (it’s free!)

The VEON story projects revenue of $5.1 billion and revenue of $688.2 million by 2028. This would require annual revenue growth of 7.0%, but would require a decrease in revenue of $295.8 million from the current revenue of $984 million.

We reveal how VEON’s forecast generates a fair value of $69.64, 30% above its current price.

explore other perspectives

Four fair value estimates by Simply Wall St Community range from US$45.56 to US$501.52 per share. Although views are divided, many are still focused on VEON’s ongoing local currency growth targets and its importance to future performance, and are exploring how different forecasts can shape their understanding of value.

Check out 4 other fair value estimates on VEON – Find out why the stock could be worth 15% less than its current price.

Build your own VEON narrative

Don’t agree with an existing story? Create your own in under 3 minutes. Following the herd rarely yields exceptional investment returns.

Would you like to try a different investment style?

Don’t miss your chance to be the next 10 bagger. Latest stocks fell:

This article by Simply Wall St is general in nature. We provide commentary using only unbiased methodologies, based on historical data and analyst forecasts, and articles are not intended to be financial advice. This is not a recommendation to buy or sell any stock, and does not take into account your objectives or financial situation. We aim to provide long-term, focused analysis based on fundamental data. Note that our analysis may not factor in the latest announcements or qualitative material from price-sensitive companies. Simply Wall St has no position in any stocks mentioned.

Do you have feedback on this article? Interested in its content? Please contact us directly. Alternatively, email editorial-team@simplywallst.com.