New Delhi, June 3 -- Nvidia-backed cloud operator Nebius Group NV, spun out from Russian internet giant Yandex, said it has raised $1 billion in convertible debt to expand its operations next year.

Amsterdam-based cloud computing services company plans to use the capital to finance additional infrastructure and expand its data-center footprint.

The notes are in two tranches: $500 million in convertible notes due in 2029 and $500 million due in 2031, the company said in a statement on Monday.

The notes will convert into equity on the basis of the original, principal amount of the debt.

Last December, Nebius had raised $700 million from investors including Nvidia Corp. and Accel Partners.

Nebius Chief Executive Officer Arkady Volozh ha...