On March 17, Nebius, a company specializing in artificial intelligence infrastructure, revealed its intention to privately issue convertible senior notes with an aggregate principal amount of $3.75 billion. This issuance will be divided into two tranches: $2 billion in notes maturing in 2031 and $1.75 billion in notes maturing in 2033. The net proceeds from this issuance are earmarked to fuel sustained business expansion, encompassing the construction and augmentation of data centers, the development of a comprehensive full-stack AI cloud platform, the enhancement of data center layouts, and the procurement of essential components, notably GPUs.
