Nebius Group is trading 8.85% down at $8.77 after announcing a $4.5 billion private convertible-notes offering to fund data centers, AI-cloud development, GPUs and other infrastructure.
- Reuters reported proposed notes include $2.75 billion due in 2030 and $1.75 billion due in 2034.
- Investors appear concerned about added debt, potential dilution, and share-selling or hedge-unwinding pressure from exchange participants.
- Broader U.S. equities are higher, making the financing announcement the clearest direct catalyst for August 19, 2026.