Aug 19 : AI cloud provider Nebius Group on Wednesday upsized its debt offering to $5 billion from $4.5 billion, as it seeks to ramp up investments in data centers and computing capacity.The Amsterdam-headquartered company plans to issue private convertible notes worth $3 billion maturing in 2030, and notes worth $2 billion maturing in 2034. It may also sell an additional $450 million of the 2030 notes and $300 million of the 2034 notes if purchasers exercise their options, it said. • Proceeds from the offering will be used to expand data center capacity, invest in the company's full-stack AI cloud platform and acquire GPUs and other key components needed to support growth.• Nebius announced the planned debt sale before the market opened on Wednesday.
• Alongside the offering, the company said it would separately exchange $800 million of debt for about 15.8 million Class A shares with certain noteholders.• Nebius shares closed nearly 10 per cent lower on Wednesday.• Nebius ended June with $8.04 billion in cash and cash equivalents, but spent $5.66 billion on property, equipment and intangible assets in the second quarter, reflecting heavy investment in data centers and computing capacity.
