Dutch cloud computing company Nebius raised $3.75 million through stock and convertibles sales.
These sales are designed to ensure Nebius acquires additional computing power and hardware, ensures a “strategic high quality and well-positioned” plot of land with trusted providers, and expands the data center footprint, according to a news release on Wednesday (September 10).
“We believe this will enable us to actively grow our core businesses from 2026 onwards, aiming to expand our new greenfield sites and customer base, from AI native tech startups to large companies,” the company said in the release.
The news comes days after the company announced its new partnership with Microsoft. This is a $19.4 billion deal by Nebius that brings artificial intelligence (AI) infrastructure to high-tech giants.
Under the multi-year agreement, Nevius will provide Microsoft with dedicated capabilities later this year from a new data center in Vineland, New Jersey, the company said in a news release.
Arkady Volozh, founder and CEO of Nebius, said:
“We look forward to ensuring significant long-term commitment agreements with major AI labs and large tech companies in addition to our core business. We are pleased to announce the first of these agreements.
Rebranded from Russian internet company Yandex, Nebius sold its search engine for its business last year, focusing on cloud computing services for its AI business. The company raised $700 million last year from investors, including NVIDIA.
As Pymnts wrote last week, the news comes as multiple industries, including cloud, data storage, semiconductor manufacturing and data centers, enjoy increased revenue from AI, solidifying their position as an economic driver.
The main catalyst is increasing adoption by AI companies. The 2025 PYMNTS Intelligence Report found that 90% of Chief Financial Officers (CFOs) saw “very positive ROIs” of generated AI, a significant increase from 26.7% in March 2024.
“Because Gen AI is delivering such strong results, CFOs are using technology in more areas of their business,” the report said.
Cloud providers are the most obvious beneficiaries of this demand. Research firm Statista predicts that cloud infrastructure services revenues will be above $400 billion for the first time. The cloud market has been re-added in recent quarters, primarily due to the AI boom, the company said.
