Nebius gets $3.5 billion Citi facility for data center growth
Today 12:00
Nebius gets $3.5 billion Citi facility for data center growth AMSTERDAM, Oct 22 (Reuters) - AI cloud services firm Nebius NBIS.O on Thursday said it had secured a $3.5 billion financing facility from Citi to fund continued development of its data centers and GPU purchases as it races to expand capacity.
The announcement comes against the backdrop of a sell-off in shares last week related to AI infrastructure, after bonds issued by rival Coreweave fell sharply in value. CoreWeave is usually grouped together with Nebius as among the top "neocloud" firms that are building data centers specialized for AI.
The new Nebius facility matures in 364 days and carries an initial interest rate of 2.75% over the term SOFR benchmark rate.
(Reporting by Toby Sterling, editing by Bart Meijer)
Recent news on Nebius NV
See all newsShort sellers make $6 billion in unrealized profits as neoclouds slide on AI debt fears (updated)
Short sellers pocket $6 billion in profits as neoclouds slide on AI debt fears
Nebius gets $3.5 billion Citi facility for data center growth (updated)
Nebius gets $3.5 billion Citi facility for data center growth
U.S. STOCKS ON THE MOVE-Thermo Fisher, CME, Capital One, Northern Trust