Overview
- Nebius disclosed on Wednesday, Aug. 19 that it intends to sell $4.5 billion of private convertible senior notes split into $2.75 billion maturing in 2030 and $1.75 billion maturing in 2034 with over‑allotment options.
- The company said proceeds will pay for data center construction, its full‑stack AI cloud platform and GPU purchases, and it plans to seek negotiated exchanges of portions of 2029 and 2031 convertible notes for Class A shares.
- Nebius reported $8.04 billion in cash at the end of June and posted very heavy second‑quarter investment, spending $5.66 billion on property, equipment and intangible assets that underline its rapid capital needs.
- Markets reacted poorly to the announcement with shares falling about 7–8% in premarket trade, as investors weigh dilution, high near‑term cash burn and whether contracted AI demand will convert into steady revenue.
- Some outlets publish a different account saying Nebius raised roughly $4.3 billion earlier in March and reported $582.3 million in Q2 revenue, a discrepancy that leaves timing and deal terms unresolved in public reporting.