Nebius borrows $3.5bn from Citi as it says AI compute prices keep rising
Nebius announced a secured $3.5 billion loan facility from Citibank with a 364-day tenor. The financing carries an interest rate starting at Term SOFR plus 2.75% annually, with the margin potentially rising to 3.50%. The company plans to use the funds to build additional data centres and purchase GPUs as demand for AI compute infrastructure continues to drive prices higher.
Key points
- Nebius secures $3.5bn loan from Citi for data centre and GPU expansion
- 364-day facility with floating rate starting at SOFR+275 bps
- Aims to address rising costs of AI compute infrastructure
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