Nebius is raising $4.5bn in convertible bonds to build AI data centres
Nebius Group said on Wednesday that it plans to raise $4.5 billion by selling convertible bonds. It will use the money to build data centres for artificial intelligence. The Amsterdam-based company set out the plan in a statement.
The offering comes in two parts. Nebius is selling $2.75 billion of notes that mature in 2030, it said. A second series, worth $1.75 billion, matures in 2034. It is selling the bonds privately to large institutional investors. The buyers hold an option to take up to a further $675 million within 13 days of the first issue. That extra allotment splits into $375 million of the 2030 notes and $300 million of the 2034 notes.
Nebius said the money would fund the growth of its business. That covers building and expanding data centres, and developing its AI cloud platform. It also covers buying key components, among them the graphics chips...
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