Nebius gets $3.5 billion Citi facility for data center growth

What happened: Nebius said it secured a $3.5 billion financing facility from Citi to fund data centre development and GPU purchases as it expands AI capacity. Key numbers: $3.5 billion facility, 364-day maturity, initial rate of 2.75 per cent over term SOFR. Why it matters: The company said the financing gives it more flexibility on the timing and structure of further fundraising for growth in 2027 and beyond. The announcement follows a selloff in AI infrastructure shares after bonds from rival CoreWeave fell sharply.

Nebius said it secured a $3.5 billion financing facility from Citi to fund data centre development and GPU purchases as it expands AI capacity.

The company said the financing gives it more flexibility on the timing and structure of further fundraising for growth in 2027 and beyond. The announcement follows a selloff in AI infrastructure shares after bonds from rival CoreWeave fell sharply.