As demand for AI infrastructure surges, companies are racing to secure massive capital to build data centres and expand compute capacity.
The cost of powering AI especially GPUs and cloud systems has become one of the biggest challenges in the industry. Nebius Group is moving aggressively to stay ahead.
Raises $4.3B through convertible notes
Amsterdam-based Nebius Group has raised around $4.3B through a private offering of convertible senior notes, marking one of the largest capital raises in the AI infrastructure space this year.
The company issued two sets of notes: one due in 2031 and another in 2033. Together, they brought in a total of approximately $4.34B.
This includes an additional $337.5M worth of notes that investors opted to buy beyond the initial offering. The company may raise even more, as there is still an option to issue an extra $262.5M in the coming days.
The announcement follows plans to raise $3.75 billion through a private offering of convertible senior notes, with $2 billion due in 2031 and $1.75 billion due in 2033, plus an option to raise an additional $562.5 million.
Additionally, the company also announced its partnership with NVIDIA and Meta.
Nebius plans to use the funds to scale its AI infrastructure. This includes building and expanding data centres, developing its AI cloud platform, and purchasing critical hardware such as GPUs. A portion of the capital will also be used for general business operations.
The move highlights how capital-intensive AI has become, especially for companies trying to compete at scale.
Building a full-stack AI cloud
Nebius is positioning itself as a full-stack AI cloud provider. The company offers tools and infrastructure for businesses to build, train, and deploy AI models.
Its platform is designed to support everything from early-stage development to production-level AI systems.
Beyond its core business, Nebius owns Avride, which develops autonomous vehicles and delivery robots, and TripleTen, an edtech platform focused on reskilling people for tech careers. It also holds stakes in companies like ClickHouse and Toloka.
