Nebius (NBIS, Financial) announced a targeted share offering of 33.3 million shares at $21 each, aiming to raise $700 million. Key investors, including NVIDIA (NVDA) and Accel Partners LP, participated in this funding round. Following the announcement, Nebius' stock surged over 15% in pre-market trading.
Focusing on cloud computing services for artificial intelligence, Nebius competes with companies like CoreWeave and major cloud operators. Large investments are flowing from corporations and financial investors into AI-supporting technologies. CoreWeave, also backed by NVIDIA, is planning a public listing with a $23 billion valuation.
CEO Arkady Volozh stated that the funds will aid in expanding Nebius' "GPU clusters." Although NVIDIA's investment strengthens their relationship, Volozh noted it doesn’t guarantee access to NVIDIA's Blackwell chip. Another fundraising round is anticipated in 2025.
