What Is Pulling NBIS Stock Down Today?

• Nebius stated that it intends to use the proceeds from the issue of these convertible notes to finance the expenditures related to the construction and build-out of its data centers.
• The company also added that it will use these funds to make investments in developing its full-stack AI cloud as well as expand its data center footprint.
• Nebius also plans to use the funds to procure key components such as graphics processing units, which are essential for its data center ambitions.

Nebius Group NV (NBIS) shares declined more than 11% in Tuesday’s opening trade after the company announced a proposed private offering of $3.75 billion of convertible senior notes.

The company said it will offer the convertible notes in two series totaling $3.75 billion, with $2 billion in the first and $1.75 billion in the second.

Retail sentiment on Stocktwits around Nebius trended in the ‘bullish’ territory with message volumes at ‘extremely high’ levels.

This follows a 15% surge on Monday after Nebius struck a $27 billion deal with Meta Platforms Inc. (META) in a long-term agreement for AI infrastructure buildout.

What Does Nebius Intend To Use These Funds For?

Nebius stated that it intends to use the proceeds from the issue of these convertible notes to finance the continuing growth of its business, including expenditures related to the construction and build-out of its data centers.

The company added that it will use these funds to make investments in developing its full-stack AI cloud as well as expand its data center footprint. Nebius also plans to use the funds to procure key components such as graphics processing units (GPU), which are essential for its data center ambitions.

Nebius’ Multi-Billion Dollar Deals

On Monday, Nebius struck a long-term deal with Meta to provide the latter with dedicated capacity across locations. The company also stated that Meta has committed to purchase additional available compute capacity across certain upcoming Nebius clusters up to a total of $15 billion during this period.

Prior to this deal, Meta and Nebius struck a $3 billion agreement in November 2025 for AI infrastructure. The Dutch company said the contract had to be limited to the capacity Nebius had available.

Nebius also signed a $17.4 billion agreement with Microsoft Corp. (MSFT) in September 2025 to deliver AI infrastructure.

NBIS stock is up 40% year-to-date and 314% over the past 12 months. The iShares Core MSCI EAFE ETF (IEFA) is up 18% over the past 12 months, while the iShares MSCI EAFE ETF (EFA) is up 17%.

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