CCP Games is entering a new era with a major identity change: the long-running EVE Online developer has rebranded as Fenris Creations following its split from former parent company Pearl Abyss. Alongside the announcement, the studio confirmed a new research partnership with Google DeepMind, signaling a future that blends ambitious online worlds with cutting-edge AI research.
Fenris Creations CEO Hilmar Veigar Pétursson framed the move as a long-term play built around independence and accountability. He said EVE Online has always been designed to endure, and that the new structure gives the company direct ownership and the freedom to invest in virtual worlds meant to evolve for decades. He also expressed gratitude to Pearl Abyss for its support over the past seven and a half years, emphasizing that the trust between developers and players is what has helped EVE remain a living universe for more than 20 years.
Google DeepMind co-founder and CEO Demis Hassabis also weighed in, highlighting how games have long served as a testing ground for major advances in AI. He noted his own background in designing and programming simulation games and pointed to DeepMind’s history of breakthroughs developed through game environments. Hassabis said he’s excited to work with Fenris Creations to explore new kinds of gameplay and advance AI research safely inside a player-driven universe as complex as EVE Online.
The leadership and governance changes are substantial, but the day-to-day running of the studio is set to remain steady. Fenris Creations will now be governed by its own Board of Directors, returning to a model similar to how the company operated prior to 2018. The ownership group includes senior management and long-term investors who are aligned with the studio’s future as a developer, publisher, and operator of player-driven online experiences. The transaction value disclosed in regulatory filings is $120 million USD, made up of cash and non-cash consideration.
Importantly for fans and employees, the rebrand reflects a change in ownership and governance only. Fenris Creations will continue operating as a standalone studio in full control of its strategy, operations, and creative direction. The company says its leadership team, studios, products, and ongoing development plans remain unchanged, with the same teams continuing to guide the EVE universe.
Fenris Creations also stressed that there are no restructuring plans or layoffs tied to the transition. The headquarters will stay in Vatnsmýrin, Iceland, and its studios in Reykjavík, London, and Shanghai will continue operating as they do today. For the local community and the people building EVE Online, the message is clear: this is a stability-focused shift designed to support long-term growth, not a disruptive reset.
As for why the split happened, the studio described it as the result of a shared long-term strategy review. Both parties ultimately concluded Fenris Creations would be better supported through independent ownership, while Pearl Abyss continues focusing on the growth of its own core titles and IP portfolio. Differences in operating context, strategic focus, and long-range priorities were among the factors behind the decision, with both sides moving forward “with mutual respect.”
The timing also comes as the EVE universe is showing strong momentum. EVE Online closed out 2025 with some of its best results in years, including a record-breaking revenue month in November and a standout fourth quarter that became the second-highest revenue quarter in the game’s history. The spacefaring MMORPG exceeded internal expectations, underlining its staying power as a live service well into its third decade.
Beyond EVE Online, Fenris Creations has two additional games in development: EVE Vanguard, described as an extraction-adventure FPS, and EVE Frontier, an online space survival game. Financially, the company reports it remains profitable, bringing in over $70 million in revenue during 2025 and maintaining strong reserves. That combination of sustained player engagement and financial stability is positioned as a foundation for continued long-term investment in the EVE universe.
The partnership with Google DeepMind adds another layer to what comes next. The collaboration is focused on advancing research into intelligence in complex, dynamic systems, exploring areas like long-horizon planning, memory, and continual learning. EVE Online will serve as a uniquely rich environment for this work, but the testing will be conducted in a controlled setting using an offline version of EVE Online running locally. Fenris Creations and DeepMind will also explore new gameplay experiences that could be enabled by the technologies developed through this research.
As part of the transition, Google has also invested in Fenris Creations and taken a minority stake in the company. Combined with the return to independent governance and a renewed emphasis on long-term world-building, Fenris Creations is positioning itself to keep expanding EVE Online while experimenting with what the next generation of player-driven online universes could become.
