LONDON: Nebius Group said it plans to raise $3 billion to accelerate growth in its artificial intelligence cloud business, just days after striking a $17.4 billion deal with Microsoft to provide GPU infrastructure capacity.
The Amsterdam-based company announced the financing package will include a $2 billion private offering of convertible senior notes and a $1 billion underwritten public offering of its Class A shares.
The raise comes on the heels of a blockbuster partnership with Microsoft, under which Nebius will supply GPU capacity over a five-year term, underscoring the scramble among tech giants and infrastructure providers to secure compute power for AI systems.
News of the Microsoft deal sent Nebius shares up 49% on Tuesday to a record high, extending gains to 245% year-to-date. The capital raise now positions the company to scale aggressively as demand for AI compute continues to surge.
The AI infrastructure arms race
AI leaders such as OpenAI, Google, and xAI have driven unprecedented demand for GPUs, making infrastructure providers like Nebius critical enablers of the ecosystem. The new funding round will not only strengthen Nebius’ balance sheet but also cement its role as a key supplier in the rapidly consolidating market for AI cloud capacity.
