Nebius Group (NBIS.US), an AI infrastructure company, saw a 16% rise in its stock price following a $700 million placement agreement with investors, including chipmaker NVIDIA (NVDA). The company plans to issue approximately 33.3 million Class A shares at $21 each. This funding supports Nebius's ongoing plans to expand its AI infrastructure.
The company also disclosed that its board granted observer rights related to the placement to Accel partner Matt Weigand and intends to nominate him for election as a director at the upcoming annual shareholders meeting. Besides NVIDIA, select investors in the placement include certain accounts managed by Accel and Orbis Investments.
