Nebius Group, the Amsterdam-headquartered AI cloud company listed on Nasdaq, has entered into a $3.5 billion senior secured facility provided by Citi to support the global expansion of its AI infrastructure.
Proceeds will fund data center development and GPU procurement, along with general corporate purposes. The facility has a 364-day maturity and initially carries interest at Term SOFR plus 2.75% per year, rising to a maximum of 3.50%. Citi acted as mandated lead arranger, agent and security agent.
The financing forms part of a diversified and sequenced funding strategy that also draws on customer prepayments and operating cash flows, giving Nebius flexibility over the timing and structure of future capital raising.
Chief Operating Officer Ophir Nave said the company is executing its funding strategy as planned and that the deal reflects a disciplined approach to managing its balance sheet. He explained that sequencing financing helps optimize long-term cost of capital, and that the facility supports near-term capacity growth. Nave added that Nebius still has a range of capital sources for its next phase, including asset-backed financing tied to more than $40 billion in long-term contracts with investment-grade customers.
Nebius provides a full-stack platform for startups and enterprises building AI products, agents and services.