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Nebius secures $3.5B Citi facility to fund AI datacentre growth
AI cloud company Nebius said it has secured a $3.5 billion financing facility from Citi to fund datacentre construction and GPU purchases.
Why it matters
AI cloud company Nebius announced on October 22 that it has secured a $3.5 billion financing facility from Citi, earmarked for datacentre construction and GPU purchases. It follows an August convertible-bond issue of $5.75 billion, another sign that the AI infrastructure capex race is still accelerating.
Full report
The 364-day facility carries an initial interest rate of term SOFR plus 2.75%. COO Ophir Nave said it gives the company more flexibility on the timing and structure of financings in 2027 and beyond; funding will also come from customer prepayments and operating cash flow. Nebius disclosed more than $40 billion in long-term contracts with investment-grade customers including Microsoft and Meta, which can serve as collateral for future financing.
Context: AI infrastructure stocks sold off last week, with rival CoreWeave's bonds tumbling. Nebius and CoreWeave are both counted among the leading "neocloud" AI datacentre players, and the facility is seen as locking in funding amid market volatility.
Source: Reuters (Amsterdam, Toby Sterling).
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