Nebius Group N.V. (NASDAQ: NBIS), a global leader in AI infrastructure, announced it has entered into definitive agreements for a $1 billion private placement of senior unsecured convertible notes. The transaction includes two tranches: $500 million of 2.00% notes due 2029 and $500 million of 3.00% notes due 2031.
CEO and founder Arkady Volozh said the financing marks a major milestone in the company’s journey to become a dominant force in AI infrastructure. “This capital enables us to accelerate the buildout of our compute capacity, data center footprint, and product innovation, putting us on track to reach mid-single-digit billions in revenue with strong margins,” he stated.
Proceeds will support the continued development of Nebius’ proprietary AI-native cloud platform, expansion of global data centers, and general corporate initiatives. The notes will be convertible into Class A ordinary shares at an initial conversion price of $51.45, representing a 40% premium to the stock’s last closing price of $36.75. At maturity, the effective conversion premiums reach 68% for the 2029 notes and 75% for the 2031 notes.
The offering follows Nebius’ $700 million equity raise in December 2024 and brings total government and private funding commitments to over $1.7 billion. The company has also secured a strong balance sheet backed by growth-stage equity stakes and non-core assets.
Settlement of the notes is expected on or around June 5, 2025, with Goldman Sachs Bank Europe SE serving as sole placement agent.
Nebius operates across Europe, North America, and Israel, delivering full-stack AI infrastructure — from custom GPU clusters to developer tools. Its broader portfolio includes subsidiaries like Avride (autonomous systems), TripleTen (tech education), and strategic investments in companies such as ClickHouse and Toloka.
