LONDON (Reuters) -Nebius Group said on Wednesday it would raise $3 billion to fuel growth in its core artificial intelligence cloud business, on the heels of its $17.4-billion deal with Microsoft.

The financing includes a $2 billion private offering of

convertible senior notes and a $1 billion underwritten public offering of the company's class A shares.

On Monday, Amsterdam-based Nebius announced it would provide Microsoft with GPU infrastructure capacity over a five-year term.

On Tuesday, its Nasdaq-listed shares soared over 49% to a record high, driven by the Microsoft deal. They are up 245% so far this year.