The strong demand for AI computing faces challenges like limited GPU supply, tight data centre space, and high costs amid a global infrastructure crunch. Nebius Group, a Nasdaq-listed (NBIS) AI cloud leader spun off from Yandex, addresses these issues with scalable full-stack AI platforms and rapid data centre expansion.
Today, Amsterdam-based Nebius revealed plans for a $3.75 billion private offering of convertible senior notes ($2 billion due in 2031, $1.75 billion due in 2033), with an option to raise up to $562.5 million more. The money will help build data centres, buy GPUs, and develop their AI cloud.
Just yesterday, Nebius signed a $27 billion deal with Meta.
The ambition? To become Europe’s go-to AI cloud
Nebius began as part of Yandex N.V., which Arkady Volozh founded in 1997 as a search engine that has since grown into a tech leader with cloud and AI expertise.
Volozh’s vision, shaped by his experience building Yandex’s infrastructure, is to provide developers with complete AI tools, from training to deployment, without the limits of older systems.
The aim is to become Europe’s top AI cloud provider, leveraging former Yandex talent to expand globally into robotics, edtech (Avride, TripleTen), and investments in ClickHouse and Toloka.
Nebius offers a full AI cloud stack with powerful GPUs (NVIDIA RTX PRO Blackwell, B200/B300/GB300), object storage, data management, serverless inference, and NVIDIA-powered robotics blueprints.
What sets them apart are deep engineering roots at Yandex, a strong focus on European data sovereignty, and plans to increase capacity from 800MW to 1 GW by the end of 2026. Instead of just chasing scale, Nebius is focusing on developer-first tools.
Nebius’s main competitors include CoreWeave (AI data centres), AWS, Azure, GCP (major cloud providers), and Lambda Labs (GPU cloud).
So, what’s next?
The new funds will support the construction of data centres in the UK, Israel, New Jersey, and other US and European locations by mid-2026. They will also buy GPUs and enhance the AI cloud.
The goal is to reach 2 GW of contracted capacity and $7-$9 billion in annual recurring revenue by 2026.
Looking ahead, Nebius plans to expand into robotics clouds and physical AI, with a huge 2.5 million-square-foot US hub opening in Independence, Missouri, in 2028.
