Nebius showed how quickly the market can re-price earnings expectations in the AI age on Thursday by pricing a stock-market offering at a 44% premium to where it stood prior to signing a huge cloud deal with Microsoft.
In addition to an enlarged $2.75 billion convertible bond, Nebius (NBIS) reported that it priced its $1 billion stock-market offering at $92.50. After a 49% increase on Tuesday, Nebius’s shares finished Wednesday at $93.39.
Nebius stated that the funds would be used to “finance the continuing growth of its business, including the acquisition of additional compute power and hardware, securing strategic high-quality and well-located land plots with reliable providers, the expansion of its data center footprint, and for general corporate purposes.”
Late on Monday, the Amsterdam-listed business and Microsoft (MSFT) agreed to a $17 billion contract for data center and associated services.
Following the disclosure of a significant increase in its backlog, which the Wall Street Journal claimed was from OpenAI to supply cloud computing services, Oracle shares (ORCL) surged 36% on Wednesday.
