AI cloud company Nebius is looking to raise money through a bond offering.

Nebius has revealed plans to raise $4.5 billion in two series of senior note offerings.

The first series will be $2.75bn in convertible notes due in 2030, and the second $1.75bn in convertible notes due in 2034.

The initial purchasers will also be offered the opportunity to buy an additional $375m of 2030 notes and $300m of 2034 notes.

Nebius says it will use the proceeds to fund the "continuing growth" of its business, and for capex activities including construction and buildout of data centers, investment in developing its cloud platform, and procurement of components including GPUs, as well as for general corporate purposes.

The bond offering comes less than a month after Nebius secured $775m in debt financing. In March 2026, the neocloud also launched a $4 billion convertible senior notes offering split into two series. That month, Nvidia invested $2bn in the cloud provider.

Nebius recently shared its Q2 2026 earnings results, posting revenues of $582.3 million for the quarter, a 454 percent increase on Q2 2025. Adjusted EBITDA, meanwhile, swung from a $21m loss in Q2 2025 to $236.2m in 2026.

In the last month, the company has announced expansion plans in Europe, including deployments with Vantage in Wales, Greenergy in Estonia, and plans for a second self-built facility at its campus in Mäntsälä, Finland.