Nebius plans to issue $4.5 billion in convertible bonds to expand its data centers and purchase GPUs

BlockBeats News, August 20th, AI cloud computing company Nebius Group announced plans to issue a total of $4.5 billion in convertible preferred bonds through a private placement, including $2.75 billion in bonds due in 2030 and $1.75 billion in bonds due in 2034.

Nebius stated that the funds raised will be used to drive business expansion, including the construction and expansion of data centers, the development of a full-stack AI cloud platform, the expansion of data center locations, and the procurement of key infrastructure equipment such as GPUs.

Furthermore, the company expects to engage in private exchange transactions with certain holders of convertible bonds due in 2029 and 2031 to optimize the debt structure. The issuance is subject to market conditions, and final terms such as interest rate and conversion price will be determined at the time of pricing.