Amsterdam-based AI infrastructure company Nebius Group N.V. is seeking to raise US$4.5 billion through two convertible bond offerings.

The company plans to use the proceeds to expand its data center footprint and AI cloud platform as demand for AI computing grows.

The company said it plans to issue US$2.75 billion of notes due in 2030 and US$1.75 billion due in 2034.

Proceeds will fund data center construction and development of its AI cloud offering.

Nebius was split from Russia’s Yandex and has since focused on AI infrastructure.

Its expansion plans include a 310-megawatt AI factory in Finland and a project in Independence, Missouri.

The planned fundraising follows an AI infrastructure agreement with Meta and an earlier convertible note sale that raised about US$4.3 billion.

Recent company disclosures show higher capital spending.

🔗 Source: Bloomberg

Recent Nebius developments