Overview
- Nebius set an upsized $4.0 billion private convertible notes offering, with $2.25 billion of 1.25% notes due 2031 and $1.75 billion of 2.625% notes due 2033.
- Settlement is expected on March 20, 2026, and the company granted initial purchasers an option to buy up to an additional $600 million of notes.
- Nebius estimates net proceeds of about $3.96 billion, which could rise to roughly $4.55 billion if the option is fully exercised.
- Proceeds are earmarked for data center construction and build-outs, full‑stack AI cloud investments, expansion of its data center footprint, GPU procurement, and general corporate purposes.
- The financing move comes after Nebius announced a $27 billion, five‑year deal with Meta that leverages next‑gen NVIDIA Vera Rubin chips, which helped drive bullish analyst actions including D.A. Davidson’s price‑target increase to $200.