Nebius Stock Falls 6.32% After $4.34 Billion Debt Raise
nbis stock fell 6.32 percent to $147.16 on Friday after Nebius Group closed a $4.34 billion convertible debt funding round and laid out plans for a 310 megawatt AI factory in Finland. The after-hours price recovered modestly to $146.01, but the financing gives the company a much larger cushion for the buildout ahead.
Nebius and the $4.34 Billion Raise
$4.34 billion closed this week in convertible debt gives Nebius room to fund a capital plan that a company executive described as being "well-funded" for 2026 spending requirements. That matters because management has kept a projection of a $7 billion to $9 billion annualised revenue run rate by the end of 2026, while revenue stood at approximately $1.25 billion at the end of 2025.
659 percent is how much Nebius has appreciated over the past 52 weeks, rising from $20.25 to an April high of $166.10 before Friday's pullback. The stock's move shows how quickly the name has been repriced, even after a sharp one-day drop and a small recovery after the close.
Finland's 310 Megawatt Build
310 megawatt is the planned size of Nebius's new AI factory in Finland, with total investment pegged at approximately $10 billion. The project would rank among the largest AI infrastructure facilities in Europe, and it extends a footprint that already includes clusters in the US and Israel.
$100 million is the approximate value of Nvidia's equity stake in Nebius, adding another signal of outside support as the company pushes into larger-scale infrastructure. If Nebius executes on the Finland plan, the financing and the buildout point to a business that is moving from a fast-rising stock story toward a far more capital-intensive operating model.
Friday's Close at $147.16
$147.16 was the closing price on Friday April 24, after a 6.32 percent decline that left the shares just below their after-hours level of $146.01. For holders, the immediate question is not whether the stock has already run far — it has — but whether a $4.34 billion raise is enough to support the next stage of expansion without forcing the market to reset expectations again.
