Nebius raised $775M via GPU-backed debt, eyes $40B in contracts
▼ Summary
– Nebius raised $775 million in its first secured debt facility, borrowing against deployed GPU infrastructure and contracted cash flows from an investment-grade customer.
– The facility matures on October 31, 2030, and is priced at SOFR + 2.50%, which is roughly 6.8% at current rates.
– The facility and the customer agreement’s cash flows together cover more than 100% of the debt.
Nebius has secured a $775 million debt facility in a move that marks the company’s first secured borrowing against its deployed GPU infrastructure and contracted cash flows from an investment-grade client. The loan matures on October 31, 2030, and carries an interest rate of SOFR plus 2.50%, which translates to approximately 6.8% at current market rates. Combined with the revenue streams from the customer agreement, the facility is overcollateralized at more than 100%.
This financing strategy leverages the company’s GPU-backed assets to unlock capital while maintaining strong coverage ratios. The structure reflects a growing trend among AI infrastructure providers to use hardware and long-term contracts as collateral for debt, rather than relying solely on equity or traditional corporate loans.
Nebius is now targeting a massive expansion, with its sights set on securing up to $40 billion in contracts. The company’s ability to raise capital against operational assets positions it to scale its AI cloud services and compete more aggressively in the rapidly evolving market for high-performance computing. The five-year maturity window provides ample time to deploy the funds and grow the business before the facility comes due.
(Source: The Next Web)
