Aug 19 (Reuters) – AI cloud provider Nebius Group said on Wednesday it plans to raise $4.5 billion \u200cthrough an offering of private convertible notes, \u200cas it seeks to ramp up investments in data centers and \u200bcomputing capacity. <\/p>\n
The Amsterdam-headquartered company plans to issue notes worth $2.75 billion maturing in 2030, and notes worth $1.75 billion maturing in 2034. It may also sell an additional $375 million \u200cof the 2030 \u2060notes and $300 million of the 2034 notes if purchasers exercise their options, it said. <\/p>\n
\u2022 \u2060Proceeds from the offering will be used to expand data center capacity, invest in the company’s full-stack AI \u200bcloud platform \u200band acquire GPUs and \u200bother key components needed \u200cto support growth. <\/p>\n
\u2022 Nebius shares were down more than 7% in premarket trading. <\/p>\n
\u2022 Alongside the debt offering, the company expects to enter privately negotiated agreements with certain holders of its existing convertible notes due 2029 \u200cand 2031 to exchange part \u200bof the notes for Class \u200bA shares. <\/p>\n
\u2022 The \u200bcompletion of the offering remains subject to \u200cmarket conditions, the company said. <\/p>\n
\u2022 \u200bNebius ended \u200bJune with $8.04 billion in cash and cash equivalents, but spent $5.66 billion on property, equipment and intangible assets \u200bin the \u200csecond quarter, reflecting heavy investment in data centers \u200band computing capacity. <\/p>\n
(Reporting by Rashika Singh in \u200bBengaluru; Editing by Jonathan Ananda) <\/p>\n","protected":false},"excerpt":{"rendered":"Aug 19 (Reuters) – AI cloud provider Nebius Group said on Wednesday it plans to raise $4.5 billion…\n","protected":false},"author":2,"featured_media":645525,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[261],"tags":[291,289,290,41609,986,273185,18,19,17,39161,82],"class_list":["post-645524","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-convertible-notes","tag-data-centers","tag-debt-offering","tag-eire","tag-ie","tag-ireland","tag-nebius-group","tag-technology"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/117122563107426928","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/645524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=645524"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/645524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/645525"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=645524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=645524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=645524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}