Nebius, an AI infrastructure company, witnessed a significant surge in its stock price, soaring over 6% during Wednesday's pre-market trading session. This impressive rally followed a remarkable 14% jump on the previous day.

The catalyst behind this remarkable movement was the announcement of a $700 million private placement financing agreement with select investors, including the renowned chip maker Nvidia. This strategic investment is poised to support Nebius' previously disclosed plans to further expand its full-stack AI infrastructure capabilities.

As part of the private placement, Nebius will issue approximately 33.3 million Class A shares at a price of $21 per share. Additionally, the company has granted observer rights to Matt Weigand, a partner at Accel, one of the participating investors. Notably, Nebius' board intends to nominate Weigand for election as a director during the company's upcoming annual shareholder meeting.