Nebius intends to raise $3.75 billion via convertible loan following Meta, Nvidia deals

<p>March 17 (Reuters) - Nebius (<a href="https://finance.yahoo.com/quote/NBIS">NBIS</a>), Europe's largest AI infrastructure firm, said ‌on Tuesday it aims to ‌raise $3.75 billion via a convertible loan offering.</p>
<p>The ​news follows two big announcements from Nebius this month, a deal worth up to $27 billion to ‌provide AI ⁠computing power to Meta (<a href="https://finance.yahoo.com/quote/META">META</a>), and a $2 billion investment from ⁠<a href="https://finance.yahoo.com/quote/NVDA/">Nvidia</a> (<a href="https://finance.yahoo.com/quote/NVDA">NVDA</a>).</p>
<p>Nebius said it would use the proceeds from the convertible ​loan to ​finance its ​core AI cloud ‌services business.</p>
<p>Nebius stock fell 5% during premarket hours following the news.</p>
<p>In February, the fast-growing Nebius reported a fourth-quarter net loss of $250 million on revenue of $228 million, and said it expected revenue ‌to hit an ​annualized run rate ​of $7 billion ​to $9 billion by the ‌end of this year, ​from $1.25 billion ​at the end of 2025.</p>
<p>The company said on Monday that ​its ‌2026 guidance remains unchanged.</p>
<p>(Reporting by ​Toby Sterling in Amsterdam; Editing ​by Shinjini Ganguli)</p>