Nebius Group N.V. (NASDAQ: NBIS) completed its private offering of convertible senior notes, raising approximately $4.3 billion in aggregate gross proceeds, the company announced.

The offering consisted of two series: $2.59 billion in 1.250% convertible notes due 2031 and $1.75 billion in 2.625% convertible notes due 2033. The initial purchaser exercised its full option to purchase an additional $337.5 million of the 2031 notes.

The notes were sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933. An overallotment option remains available for up to $262.5 million in additional 2033 notes, exercisable within 13 days from March 20, 2026.

Nebius stated it intends to use the net proceeds to finance data center construction and build-out, investments in its AI cloud platform development, expansion of its data center footprint, procurement of components including GPUs, and general corporate purposes.

The Amsterdam-headquartered company operates as an AI infrastructure provider, offering cloud services for AI development and deployment. Nebius Group also includes autonomous vehicle developer Avride and education technology platform TripleTen, while holding equity stakes in companies including ClickHouse and Toloka.

Details regarding the terms of the convertible notes are available in the company's Form 6-K filing with the Securities and Exchange Commission dated March 18, 2026.