Infrastructure
Nebius plans $4.5 billion convertible-note sale for AI data centers
Image: Primary Nebius Group said it plans to raise $4.5 billion through two private convertible-note offerings to fund AI data-center expansion, its AI cloud platform and purchases of components including graphics chips. The proposed notes comprise $2.75 billion due in 2030 and $1.75 billion due in 2034; buyers could take up to $675 million more. Nebius said terms would be set when the offering prices and there is no assurance it or related debt exchanges will close.
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