The AI infrastructure company's stock rose on Tuesday after it announced the closing of a private offering of convertible senior notes, raising approximately $5.75 billion. This amount exceeded its initial $4.5 billion target, which had been raised to $5 billion last week, signaling strong institutional demand. The proceeds will fund data center construction, AI cloud investments, GPU procurement, and other corporate purposes. Nebius also entered exchange agreements to swap $800 million of older convertible notes for approximately 15.8 million Class A ordinary shares.