Nebius plans to raise $4.5 billion through a bond issue

Amsterdam-based AI infrastructure company Nebius plans to raise $4.5 billion through convertible notes to help fund its growing data centre and computing infrastructure.

The company will issue $2.75 billion in notes due in 2030 and another $1.75 billion in notes maturing in 2034, according to a company statement.

Nebius plans to use the funds to build and expand data centres, invest in its AI cloud business, and purchase GPUs. The company operates as a “neocloud,” building data centres equipped with GPUs and providing computing capacity and specialised software to AI and enterprise customers.

Nebius has already secured multi-billion-dollar contracts with Meta and Microsoft to provide AI infrastructure. In May, the company also acquired US startup Eigen for around $643 million in cash and stock. Eigen specialises in improving the performance of leading open-source AI models.