AI Funding Surges as Nebius Raises $4.5B, Cognition Shuns SpaceX, and Regulatory Crossroads Loom

AI cloud provider Nebius Group announced plans to raise $4.5 billion through a convertible notes offering, with proceeds earmarked for massive data center expansion and acquiring GPUs to fuel its full-stack AI cloud platform. The Amsterdam-based company plans to issue notes maturing in 2030 and 2034, with an additional $675 million available if investors exercise options. Nebius ended June with $8.04 billion in cash but spent $5.66 billion on property and equipment in...