Nebius plans $4.5 billion convertible debt sale to fund data centers, AI platform

Aug 19 : AI cloud provider Nebius Group said on Wednesday it plans to raise $4.5 billion through an offering of private convertible notes, as it seeks to ramp up investments in data centers and computing capacity.The Amsterdam-headquartered company plans to issue notes worth $2.75 billion maturing in 2030, and notes worth $1.75 billion maturing in 2034. It may also sell an additional $375 million of the 2030 notes and $300 million of the 2034 notes if purchasers exercise their options, it said. • Proceeds from the offering will be used to expand data center capacity, invest in the company's full-stack AI cloud platform and acquire GPUs and other key components needed to support growth.• Nebius shares were down more than 7 per cent in premarket trading. • Alongside the debt offering, the co