Nebius Plans $4.5 Billion Convertible Debt for AI Cloud Expansion as Shares Drop 7%
Updated
Updated · Yahoo Finance · Aug 19
Nebius Plans $4.5 Billion Convertible Debt for AI Cloud Expansion as Shares Drop 7%
3 articles · Updated · Yahoo Finance · Aug 19
Summary
$4.5 billion in planned private convertible notes would fund Nebius's push into more data centers, computing capacity, GPUs and its full-stack AI cloud platform.
The Amsterdam-based company aims to sell $2.75 billion of 2030 notes and $1.75 billion of 2034 notes, with options for buyers to add up to $675 million more.
Nebius also expects privately negotiated deals with holders of its 2029 and 2031 convertible notes to exchange part of that debt for Class A shares.
More than 7% lower in premarket trading, the stock reacted as the offering remained subject to market conditions despite Nebius ending June with $8.04 billion in cash.
$5.66 billion spent on property, equipment and intangible assets in the second quarter underscores how aggressively Nebius is investing in AI infrastructure.