According to CoinMeta, the cloud computing company Nebius Group plans to issue $4.5 billion in convertible preferred bonds through a private placement, which includes $2.75 billion in bonds maturing in 2030 and $1.75 billion in bonds maturing in 2034. The funds raised will be used for building and expanding data centers, developing a full-stack AI cloud platform, and purchasing GPU and other infrastructure equipment. Nebius Group expects to conduct private stock exchange transactions with some holders of convertible bonds that mature in 2029 and 2031 in order to optimize the debt structure.