AMSTERDAM: Nvidia-backed Nebius Group has secured US$1 billion in unsecured convertible debt financing to further scale its global AI infrastructure footprint. The notes are divided into two tranches: US$500 million in 2.00% convertible notes due 2029 and another US$500 million in 3.00% convertible notes due 2031.
The Nasdaq-listed company plans to use the net proceeds to support its business growth, including acquiring additional compute power, expanding its data centre footprint, and for general corporate purposes. Recently, it has taken steps to expand in Asia through Singapore.
The notes will be issued under legal agreements dated June 5, 2025, with US Bank Trust Company, National Association, as trustee. “The notes will be senior, unsecured obligations of the company and will bear interest on the original principal amount thereof at an annual rate of 2.00%, in the case of the 2029 notes, and 3.00%, in the case of the 2031 notes, payable semi- annually in arrears on June 5 and December 5, beginning on December 5, 2025,” the company said in its press release.
Unless earlier redeemed, repurchased or converted, the notes will mature on June 5, 2029, and June 5, 2031.
This follows Nebius Group’s US$700 million equity financing in December 2024, backed by strategic investors including NVIDIA.
Nebius founder and CEO Arkady Volozh said that this marks another major milestone for the company. He noted, “The fresh capital we are raising now gives us more firepower to go faster, paving the way for increased revenue opportunities in 2026 and further accelerating us toward our medium-term target of mid-single-digit billions of dollars in revenue as a high-margin business, with potential upside.”
Nebius Group is set to participate in SuperAI 2025, Asia’s largest AI event, taking place at Marina Bay Sands on June 18–19. /TISG
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