Nebius Group Cloud Computing Plans to Sell $4.5 Billion in Bonds

Nebius, a Dutch artificial intelligence cloud computing services company, is seeking to raise $4.5 billion through the sale of convertible bonds as it builds new data centers to meet growing demand from AI application companies.

Bloomberg News quoted a statement from the Amsterdam-based company saying it had offered the bonds in two tranches: the first worth $2.75 billion and maturing in 2030, and the second worth $1.75 billion and maturing in 2034.

The company will use the proceeds from the offering to fund its growth, including the construction of data centers and the development of its AI cloud computing offerings.

Before Wall Street trading began on Wednesday, the company’s shares fell 9.2%, although they had risen 197% from the start of the year through the close of trading yesterday.

Earlier this year, the company raised $4.3 billion through the sale of convertible bonds, backed by an agreement with technology company Meta Platforms, owner of social media platforms Facebook, Instagram, and WhatsApp.

Nebius is collaborating with Goldman Sachs Group, JPMorgan Chase, Citigroup, and Bank of America on the bond offering, with yield prices expected to be announced later today, according to sources familiar with the matter who requested anonymity.