Nebius Secures $3.5 Billion Citi Credit Facility for AI Expansion

Nebius Group N.V. (NBIS) said Thursday it secured a $3.5 billion senior secured financing facility from Citi to fund global expansion of its AI cloud computing business. The 364-day facility carries interest at Term SOFR plus 2.75% per annum, rising to a maximum of 3.50%, subject to adjustments. Proceeds will fund data center development, GPU purchases and general corporate needs. Citi served as mandated lead arranger, agent and security agent. "This facility provides additional financing to support our near-term capacity build-out," said COO Ophir Nave, citing asset-backed financing tied to investment-grade customer commitments exceeding $40 billion in long-term contracts as another available capital source. Nebius shares fell 1.50% in pre-market trading on the Nasdaq after closing at $171.57 on Wednesday.