AI infrastructure company Nebius Group is set to raise $3bn through a new offering of convertible notes alongside a simultaneous offering of the company’s Class A shares.
The company will utilise the proceeds to support ongoing business expansion, which includes acquiring additional computing resources and hardware, securing strategic land plots, and enlarging its data centre footprint.
The funds will also cover general corporate purposes.
In a statement, Nebius said: “We believe this will enable us to aggressively grow our core business in 2026 and beyond as we aim to scale our global data centre portfolio, including through new greenfield sites, and the expansion of our customer base, from AI native tech startups to larger enterprises.”
As part of the initiative, the company plans to issue $2bn in convertible senior notes, divided equally between notes due in 2030 and 2032, in a private offering to qualified institutional buyers.
In addition, Nebius will offer $1bn in Class A ordinary shares with a par value of €0.01 in an underwritten public offering.
The company has also provided underwriters a 30-day option to purchase an additional $150m of Class A shares at the public offering price, excluding underwriting discounts and commissions.
Nebius said that the offerings are contingent on market conditions, and there is no guarantee regarding their completion or terms.
Goldman Sachs will serve as the lead book-running manager for the public offering, with Morgan Stanley, BofA Securities, and Citigroup acting as additional managers.
“As we continue to access the capital that we need to capture the substantial growth opportunity ahead, we will remain focused on mitigating shareholder dilution and maintaining appropriate levels of debt on favourable terms,” the statement added.
The fundraising initiative follows Nebius’ recent $17.4bn agreement with Microsoft.
The deal provides Microsoft with access to dedicated GPU infrastructure capacity at Nebius’ newly established data centre in Vineland, New Jersey. The agreement also includes an option for Microsoft to acquire additional services or capacity, potentially increasing the contract’s total value to approximately $19.4bn.
“Nebius to raise $3bn for AI infrastructure expansion” was originally created and published by Verdict, a GlobalData owned brand.
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