Nebius Group N.V. (NASDAQ:NBIS) stock fell Thursday after the company priced an upsized $5 billion convertible notes offering.
On Wednesday, the company priced an upsized $5 billion convertible senior notes offering to fund its expanding artificial intelligence infrastructure business.
The AI cloud company increased the offering from its previously announced $4.5 billion. The deal is expected to close Aug. 24, subject to customary conditions.
Nebius Raises $5 Billion For AI Expansion
The offering includes $3 billion of 0.50% convertible notes due 2030 and $2 billion of 4.50% notes due 2034.
