AI cloud provider Nebius Group plans to raise $4.5 billion through a private convertible debt sale to fund data centers and computing capacity
The Amsterdam-headquartered company intends to issue $2.75 billion in notes maturing in 2030 and $1.75 billion in notes maturing in 2034. Proceeds will be used to expand data center capacity, invest in its full-stack AI cloud platform, and acquire GPUs and other key components. Nebius also expects to enter privately negotiated agreements with certain holders of its existing convertible notes due 2029 and 2031 to exchange part of the notes for Class A shares.
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