AI infrastructure firm Nebius raises $4.34 billion in convertible notes
Nebius, a major player in AI infrastructure, just raised $4.34 billion through convertible notes, topping its original goal of $4 billion.
The money will help it build more data centers and expand its full-stack AI cloud services.
Use of proceeds
The company intends to use the proceeds (approximately $3.96 billion in estimated net proceeds) to finance construction and build-out of data centers, procure GPUs and other key components, expand its data-center footprint and develop its full-stack AI cloud, and for general corporate purposes.
AI infrastructure
Nebius builds platforms that help developers and companies train and run AI models, think everything from crunching big data to launching real-world applications, all backed by a growing network of global data centers.
This latest funding should help it keep up with the rising demand for smarter tech everywhere.