Nebius to raise $3bn for AI infrastructure expansion

Core Viewpoint - Nebius Group is raising $3 billion through a convertible notes offering and a simultaneous Class A shares offering to support business expansion and general corporate purposes [1][2][3] Fundraising Details - The company plans to issue $2 billion in convertible senior notes, with maturities in 2030 and 2032, aimed at qualified institutional buyers [2] - An additional $1 billion in Class A ordinary shares will be offered, with a 30-day option for underwriters to purchase an extra $150 million [3] - Goldman Sachs is the lead book-running manager for the public offering, with Morgan Stanley, BofA Securities, and Citigroup as additional managers [4] Business Expansion Plans - Proceeds from the offerings will be used for acquiring computing resources, securing land plots, and expanding data center operations [1] - The company aims to grow its global data center portfolio and customer base, targeting both AI native tech startups and larger enterprises [2] Strategic Partnerships - The fundraising follows a $17.4 billion agreement with Microsoft, providing the tech giant access to dedicated GPU infrastructure at Nebius' new data center in Vineland, New Jersey [4][5] - The agreement includes an option for Microsoft to acquire additional services, potentially raising the contract's total value to approximately $19.4 billion [5]