Nebius raises USD $4.3 billion to boost AI & Asia expansion
Nebius Group has finalised a major round of financing, raising approximately USD $4.3 billion through a combination of its recent public offering of Class A shares and the issuance of convertible notes. The financing was completed following the full exercise of the underwriters' options linked to the share offering.
The underwriters purchased an additional 1,621,621 Class A shares at USD $92.50 per share, before underwriting discounts and commissions. This lifted the total gross proceeds from the Class A offering to around USD $1.15 billion. Combined with the proceeds from the company's issuance of convertible notes, Nebius reached an aggregate total of about USD $4.3 billion.
The convertible notes, due in 2030 and 2032, were issued to qualified institutional buyers under Rule 144A of the Securities Act of 1933. Both the Class A share offering and the convertible notes closed on September 15, with the additional shares acquired through the underwriters' option bringing the financing round to its final amount.
Goldman Sachs acted as lead book-running manager for the offering. Morgan Stanley, BofA Securities and Citigroup also served as book-running managers.
Expansion and capital allocation
Nebius intends to use the capital raised to accelerate its AI infrastructure initiatives and to support entry into new international markets, with a particular focus on Asia. A portion of the investment will be allocated toward developing AI-driven technologies to advance drug discovery and other life sciences applications. The financing is viewed as enhancing the company's ability to meet the growing demand for AI infrastructure, while also solidifying its position in the global supply chain for advanced technology services.
Company profile
Headquartered in Amsterdam, Nebius Group specialises in full-stack infrastructure for customised AI applications. Its main business is an AI-native cloud platform that integrates custom-built hardware and software to deliver compute power, storage, and managed services for clients developing and deploying AI models.
Beyond its core infrastructure business, Nebius operates a portfolio of technology ventures. Avride focuses on autonomous driving technology for self-driving vehicles and delivery robots, while TripleTen operates in the education technology sector, providing reskilling opportunities for workers seeking careers in technology. Nebius also maintains equity holdings in companies such as ClickHouse and Toloka.
Market response
The offerings were conducted under an automatically effective shelf registration statement filed with the U.S. Securities and Exchange Commission. Analysts note that the successful completion of both the share offering and convertible notes issuance highlights a strong level of investor confidence. Market participants view the financing as a signal of Nebius's ability to scale its operations and sustain growth in AI infrastructure, while pursuing expansion in sectors such as biotechnology and life sciences.
