Nebius Announces $4.5 Billion Convertible Debt Offering to Fund Data Center Expansion and AI Platform
AI cloud provider Nebius Group announced plans to raise $4.5 billion through a private convertible debt offering, aiming to expand its data center capacity and invest in its full-stack AI platform. The company intends to issue notes worth $2.75 billion maturing in 2030 and $1.75 billion due in 2034, with potential additional offerings of up to $675 million if exercised by investors. The funds will be used for data center expansion, GPU acquisitions, and other computing resources necessary for growth. Nebius also plans to exchange part of its existing convertible notes maturing in 2029 and 2031 with certain holders through privately negotiated agreements involving Class A shares. The offering is subject to market conditions. As of June, the company held $8.04 billion in cash but spent over half—$5.66 billion—in Q2 on property, equipment, and intangible assets.
Tickers: $NBIS
Topics: AI platform capital raising convertible debt data centers