Nebius Plans $4.5 Billion Convertible Debt Sale to Fund Data Centers, AI Platform

3-line summary

• AI cloud provider Nebius Group said it plans to raise $4.5 billion through an offering of private convertible notes to fund data center and AI platform investment, according to a Reuters report cited by Yahoo Finance.
• The company plans notes worth $2.75 billion maturing in 2030 and $1.75 billion maturing in 2034, with options for additional notes; Nebius shares were down more than 7% in premarket trading, and the company ended June with $8.04 billion in cash.

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