Nebius raised $700 million in financing, supported by NVIDIA to boost AI cloud computing
Nebius announced a targeted issuance of 33.3 million shares at a price of $21 per share, raising $700 million, with investors including NVIDIA and Accel Partners LP. This news drove Nebius's stock price up more than 15% in pre-market trading. Nebius focuses on AI cloud computing services, plans to expand its GPU cluster, and hopes to obtain NVIDIA's Blackwell chips as soon as possible. The CEO stated that larger-scale financing is expected in 2025
According to a statement on Monday, Nebius (NBIS.US) will conduct a targeted issuance of 33.3 million shares at a price of $21 per share to raise $700 million, with investors including NVIDIA (NVDA.US) and Accel Partners LP participating in this financing. Boosted by this news, Nebius's stock surged over 15% in pre-market trading on Monday.
After streamlining some of its operations, Nebius is focusing on providing cloud computing services for artificial intelligence and competing with companies like CoreWeave and larger cloud operators. A significant amount of capital is flowing from large enterprises and financial investors into technologies that support artificial intelligence. CoreWeave has also received support from NVIDIA and is planning to go public with a valuation of $23 billion.
Nebius CEO Arkady Volozh stated that this financing will support the expansion of the company's "GPU cluster." Arkady Volozh added that he hopes the company can obtain the highly anticipated NVIDIA Blackwell chips as soon as possible, but investment from NVIDIA does not guarantee this, stating, "This deal is not related to GPUs," "However, it certainly indicates our close relationship, and we hope this will have an impact." He also mentioned that Nebius is expected to conduct another "possibly larger" financing round in 2025