Nebius builds and operates data centres packed with GPUs and offers access plus specialised software to AI and enterprise customers. It positions itself as a neocloud provider supplying AI compute at scale and has secured multi-billion-dollar contracts with Meta and Microsoft. In May it acquired Eigen for about $643m in cash and stock to improve performance of open-source AI models. To finance further expansion, Nebius is issuing $4.5bn of convertible notes, earmarked for data-centre build-out, AI cloud investment and GPU purchases. The deal structure comprises two tranches due in 2030 and 2034, reflecting significant near- and medium-term capital needs.

Total raised

$7.8B

Funding rounds

8

Latest round

Debt Financing

Latest activity

Jul 2026