Nebius Group Raises $5.75 Billion Through Convertible Bond Offering for AI Cloud Growth

AI cloud company Nebius Group successfully completed a $5.75 billion convertible bond offering, upsized from an initial $4.5 billion, to finance its expansion. The offering included two series of notes due in 2030 and 2034 with varying interest rates. Proceeds are earmarked for data center construction, AI cloud development, and procurement of key components like GPUs, highlighting significant investment in AI infrastructure.