Nebius Group has secured a $3.5 billion senior secured financing facility from Citi to support the continued expansion of its global AI infrastructure footprint. The 364-day facility will provide additional capital for data center development, GPU procurement, and general corporate purposes as Nebius continues building out capacity for its AI cloud platform.
The financing initially bears interest at Term SOFR plus 2.75% per year, with the spread increasing up to a maximum of 3.50% per year, subject to additional adjustments.
Nebius said the facility is part of a broader strategy to diversify and sequence its sources of capital while maintaining flexibility over when and how it raises longer-term financing.
The company’s funding base also includes customer prepayments, operating cash flows, and other financing mechanisms. By adding the Citi facility, Nebius said it can support near-term expansion while preserving the ability to access other forms of capital for growth in 2027 and beyond.
Nebius is also evaluating asset-backed financing supported by long-term customer commitments. The company said it currently has more than $40 billion of investment-grade customer commitments under long-term contracts, providing another potential source of financing as its infrastructure requirements grow.
Citi served as mandated lead arranger, agent, and security agent for the transaction.
Nebius is building a full-stack AI cloud platform designed for developers and enterprises working across model training, data infrastructure, production deployment, AI agents, and other AI services.
The Amsterdam-based company has been expanding its global data center and compute capacity to meet rising demand for GPU infrastructure. The new facility gives Nebius more financial flexibility as it continues to invest in hardware, capacity, and supporting infrastructure.
Nebius said the financing reflects its approach of maintaining a disciplined balance sheet while matching different funding sources to specific stages of its growth plans.
KEY QUOTES:
“We continue to execute our funding strategy as planned, and are pleased to have secured this financing from a leading global financial institution. This is a result of our disciplined approach to managing our balance sheet to fund our portfolio of projects, and once again demonstrates our ability to choose when and how we raise capital to support our growth.
“Sequencing our financing is how we optimize our long-term cost of capital. This facility provides additional financing to support our near-term capacity build-out. We still have a range of capital sources available to us to finance the next phase of growth, including asset-backed financing based on investment-grade customer commitments of more than $40 billion of long-term contracts.”
Ophir Nave, Chief Operating Officer Of Nebius
