AI Infrastructure Company Nebius to Raise $3 Billion
Reuters
Sep 10
LONDON, Sept 10 (Reuters) - Nebius Group said on Wednesday it would raise $3 billion to fuel growth in its core artificial intelligence cloud business, on the heels of its $17.4-billion deal with Microsoft.
Nebius shares dropped 5.1% in premarket trading.
The financing includes a $2 billion private offering of convertible senior notes and a $1 billion underwritten public offering of the company's class A shares.
On Monday, Amsterdam-based Nebius announced it would provide Microsoft with GPU infrastructure capacity over a five-year term.
On Tuesday, its Nasdaq-listed shares soared over 49% to a record high, driven by the Microsoft deal. They are up 245% so far this year.
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