Nebius Group NV (NBIS) advanced 2.4% in early trading on Tuesday, recovering part of the roughly 13% decline posted on August 19, after the company priced a $5 billion convertible senior notes offering.
The offering, upsized from an initially announced $4.5 billion, consists of $3 billion in 0.50% notes maturing in 2030 and $2 billion in 4.50% notes due 2034. Settlement is scheduled for August 24, 2026. The move follows investor concern over potential dilution after Nebius’s shares fell sharply on Monday.
Cantor Fitzgerald analyst Brett Knoblauch maintained an Overweight rating and a $260 price target on Nebius stock. Knoblauch noted that Pennsylvania’s recent executive order on data center permitting, while tightening requirements, does not constitute an outright ban. This distinction is viewed as supportive for Nebius, which recently acquired a site in the state.
The broader market showed mixed performance, with the S&P 500 up 0.3% and the Nasdaq essentially flat. The company’s stock remains well below its 52-week high of $299.86, reflecting ongoing investor caution around AI cloud financing structures, a trend also affecting peers such as CoreWeave.
