AI cloud firm Nebius rises after upsized $5 bln convertible debt sale

Nebius NV

20/08/2026 11:35

** AI cloud provider Nebius Group's NBIS.O shares up 1.4% at $227.03 before the bell on Thurs after securing more capital than planned
** Amsterdam-based co late Weds announced pricing private offerings of $3 bln 0.5% convertible bonds (CBs) due 2030 and $2 bln 4.5% CBs due 2034
** Conversion price on 2030 CBs of $313.46 and conversion price on 2034 CBs of $324.65 represent premiums to stock's last close of 40% and 45%, respectively
** NBIS shares on Weds finished down nearly 10% at $223.90 after co launched $4.5 bln offering to expand data center capacity, invest in its full-stack AI cloud platform and acquire GPUs and other key components needed to support growth
** Alongside the offering, co to separately exchange $800 mln of existing 2029 and 2031 CBs for about 15.8 mln shares with certain holders
** Through Weds close, NBIS shares had surged ~167% YTD for ~$61 bln market cap
** In March, co announced pricing an upsized sale of $4 bln CBs on heels of a deal with Meta Platforms META.O
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))