Anonymous17 days ago
Nebius Group, the Amsterdam-based AI infrastructure company that emerged from the wreckage of Yandex's geopolitical crisis, announced a $3.75 billion convertible debt offering on March 17, capping a week in which it secured a $27 billion Meta deal and a $2 billion Nvidia investment. The rapid-fire dealmaking has transformed a company that was trading at $20 eighteen months ago into one of the most sought-after "neocloud" providers in the world, raising questions about whether the AI infrastructure buildout is creating a new class of indispensable middlemen — or a dangerously overleveraged bubble.