Update: Nebius Group Receives $700 Million Private Placement Led by Accel, NVIDIA, and Orbis Investments-March 2024-www.financetom.com

Update: Nebius Group Receives $700 Million Private Placement Led by Accel, NVIDIA, and Orbis Investments

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Update: Nebius Group Receives $700 Million Private Placement Led by Accel, NVIDIA, and Orbis Investments

Dec 2, 2024 9:41 AM

12:02 PM EST, 12/02/2024 (MT Newswires) -- (Updates with recent stock movement in the last paragraph.)

Nebius Group ( NBIS ) announced Monday a $700 million private placement financing with participation from Accel, NVIDIA, and Orbis Investments.

The company said the funds will support the company's global expansion of full-stack AI infrastructure, including large-scale GPU clusters, cloud platforms, and AI development tools.

The financing involves issuing 33.33 million Class A shares at $21 each, a 3% premium to the recent average trading price.

Proceeds will bolster Nebius' ( NBIS ) AI-native infrastructure, such as its Nebius AI Studio and build-to-suit data centers.

Accel Partner Matt Weigand has been granted board observer rights and will be nominated as a director in 2025.

Following strong trading activity since October, Nebius ( NBIS ) has canceled plans to repurchase its Class A shares.

The company's shares were up more than 17% in recent trading.

Price: 25.75, Change: +3.76, Percent Change: +17.10

Previous page： Walmart Likely to See Potential Upside in Fiscal Q3 US Comparable Sales, BofA Says Next page： Airbus nears deal on funding, payment terms with Spirit Aero, source says

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Walmart Likely to See Potential Upside in Fiscal Q3 US Comparable Sales, BofA Says

Nov 12, 2024

12:05 PM EST, 11/12/2024 (MT Newswires) -- Walmart ( WMT ) is expected to see a potential upside in fiscal Q3 US comparable sales and continued gross margin expansion, BofA Securities said in a note emailed Tuesday. BofA estimates a 3.5% US comparable sales growth for the quarter, below the consensus estimates of 3.6%, but the investment firm said it...

Airbus nears deal on funding, payment terms with Spirit Aero, source says

Nov 12, 2024

(Reuters) - Airbus is poised to finalise an agreement as early as Wednesday with struggling aerospace supplier Spirit Aerosystems ( SPR ) on fresh funding and revised payment terms, a person familiar with the matter said. Spirit Aero, which said last week it was negotiating possible advances from its customers, did not immediately respond to a request for comment. The...

US sues to block UnitedHealth's $3.3 billion purchase of Amedisys

Nov 12, 2024

(Reuters) - The Justice Department and three U.S. states filed a lawsuit on Tuesday to block UnitedHealth Group's ( UNH ) $3.3 billion purchase of Amedisys Inc ( AMED ) over concern the deal would harm competition in the market for home health services, the department said. Eliminating the competition between UnitedHealth ( UNH ) and Amedisys ( AMED )...

Match Group's Medium-Term Prospects Intact Despite 'Choppy' Tinder Trends, Morgan Stanley Says

Nov 12, 2024

12:12 PM EST, 11/12/2024 (MT Newswires) -- Match Group's ( MTCH ) medium-term prospects remain the same based on product innovation despite a choppy Tinder turnaround, Morgan Stanely said in a note Tuesday. The analysts said that the weak point in Q3 was a 9% year-over-year decline in Tinder's monthly active users. However, this may be due more to the...