AI infrastructure provider Nebius Group unveiled plans to raise $3 billion in new funding just days after securing a multi-year infrastructure deal with Microsoft potentially worth around $20 billion.

In a statement, the Amsterdam-based company outlined a financing package consisting of $2 billion in convertible notes and $1 billion in Class A shares in a public offering. The capital will be directed toward expanding its data centre footprint, acquiring additional compute power and hardware and securing strategic high-quality land plots.

Nebius stated $1 billion of the convertible notes will mature in 2030, with the remainder due in 2032.

The AI infrastructure player announced the capital raise in the same week it confirmed a five-year deal to supply dedicated GPU infrastructure capacity to Microsoft from a new data centre in Vineland, New Jersey. According to a regulatory filing, the contract is valued at about $17.4 billion through 2031, with the potential to reach $19.4 billion if Microsoft exercises its option to acquire additional services and capacity.

Nebius CEO Arkady Volozh stated that while “the economics of the deal are attractive in their own right”, the tie-up will also “help us to accelerate the growth of our AI cloud business even further in 2026 and beyond”.

The partnership triggered strong investor enthusiasm as Nebius’ Nasdaq-listed shares soared over 49 per cent to a record high after the announcement, and are now up 245 per cent this year to date, Reuters reported.

The deal comes as Microsoft accelerates investment in new data centres to meet mounting demand for cloud and AI services.