Nebius Group, an AI cloud provider listed on Nasdaq under the ticker NBIS, has secured a credit facility of $3.5 billion from Citi. The company plans to allocate these funds toward the development of data centers, the acquisition of GPUs, and general corporate needs.
This senior secured facility follows a previous financing arrangement from July 2026, when the company obtained $775 million through a syndicate led by MUFG. The new agreement is approximately 4.5 times larger than the previous deal.
The company reports over $40 billion in long-term contracted revenue from investment-grade clients, including Microsoft and Meta. This revenue figure exceeds the new credit facility by more than ten times.
The new debt has a maturity period of 364 days and carries a floating interest rate. By utilizing debt financing, Nebius aims to scale its infrastructure while avoiding the dilution of existing shares that typically occurs with equity offerings.
Headquartered in Amsterdam, Nebius Group was formed following the separation of Yandex's Russian assets between 2022 and 2024. The company currently operates a full-stack AI cloud platform based on GPU clusters.
