Nebius Group ( NBIS ) shares rose 3% Thursday after the AI infrastructure company completed a larger-than-planned convertible debt transaction, easing some investor concern over its financing needs.
The offering generated $5.75 billion, compared with an initial target of $4.5 billion. Nebius plans to direct the capital toward data-center growth, GPU purchases and expansion of its AI cloud platform.
Goldman Sachs also raised its price target to $328 from $286 on Aug. 25 while keeping a Buy rating. The new target came as the stock was recovering from a six-session decline that had cut roughly 24% from its value.
Nebius received another boost at its Aug. 25 annual meeting, where shareholders approved all 16 proposals, including board appointments and permissions related to share issuance and buybacks.
The broader AI infrastructure market also remained in focus as IREN ( IREN ) prepared to report quarterly results. Nebius previously reported second-quarter revenue growth of 454% year over year.
Improved funding visibility and analyst support may help Nebius stabilize after its recent selloff.
