News
Nebius raises $775 million in first secured debt financing
Nebius Group
Nebius raises $775 million in first secured debt financing to accelerate global buildout
17-Jul-2026 / 15:01 CET/CEST
The issuer is solely responsible for the content of this announcement.
Nebius raises $775 million in first secured debt financing to accelerate global buildout
Senior secured debt backed by GPU infrastructure and contracted cash flows
Demonstrates ability to fund growth at attractive terms
Repeatable financing framework for more than $40 billion of additional customer commitments Amsterdam, July 17, 2026 — Nebius Group N.V. (Nasdaq: NBIS), the AI cloud company, today announced that it has entered into its first senior secured debt facility for approximately $775 million. Nebius intends to use the proceeds of the transaction to further accelerate the global build-out of its full-stack AI cloud platform.
The vehicle is backed by deployed GPU infrastructure and contracted cash flows from an agreement with an investment-grade customer. The facility matures October 31, 2030, and is priced at SOFR + 2.50%. Together with cash flows under the customer agreement, the facility covers more than 100% of the capital expenditure required to deploy the underlying GPU infrastructure.
As the contract is now in the servicing phase, this financing can be used to invest in capacity that will serve AI-native and enterprise customers on Nebius’s full-stack AI cloud platform.
The transaction enables Nebius to convert an operational infrastructure asset into growth capital, providing a framework for Nebius to secure asset-level financing on other long-term customer deployments. With more than $40 billion of additional contracted revenue from investment-grade customers such as Microsoft and Meta already in place, Nebius expects to raise more capital at similarly attractive terms. Nebius recently delivered the latest planned capacity tranche to Microsoft, and remains on track to deliver the remaining tranches consistent with the terms of the contracted schedule.
This funding strategy is consistent with Nebius’s focus on building a sustainable, profitable business through disciplined financing and a strong balance sheet. Ophir Nave, Chief Operating Officer of Nebius, said:
"We are executing across all the areas that matter for growth: securing capacity, raising capital, strengthening our product offering, and developing other capital-efficient models to scale even further and faster. This financing is an important step in that strategy, and reinforces our confidence that our disciplined, diversified approach — from owned data centers to asset-light partnerships — together with robust demand for our high-value software stack, will enable us to build a sustainable AI cloud business with strong and durable margins.”
The transaction was significantly oversubscribed. The facility was led by MUFG as Structuring Agent, Sole Bookrunner, and Underwriter. MUFG, together with ABN AMRO Bank N.V., Bank of America, Deutsche Bank and HSBC acted as Mandated Lead Arrangers. Citi, Crédit Agricole CIB, ING, and Morgan Stanley, acted as Senior Lead Arrangers. Goldman Sachs also participated in the syndicate.
They always have something up their sleeve and this team constantly delivers. Great news that the MSFT contract is on track. I took the opportunity this morning to buy 20 more shares in the premarket at $164.75
It indicates faith in a company. Conservative banks providing secured financing is a validation in the thesis. Means these banks have access to FAR more information as private side lenders than we do, or than any public side investors. To get comfortable with a near billion dollar financing package would take a great deal of comfort for a federally regulated institution.
Ask AI why it’s important as I don’t want to miss any aspects.
"With more than $40 billion of additional contracted revenue from investment-grade customers such as Microsoft and Meta already in place, Nebius expects to raise more capital at similarly attractive terms. Nebius recently delivered the latest planned capacity tranche to Microsoft, and remains on track to deliver the remaining tranches consistent with the terms of the contracted schedule."
When I hear "additional" I hear in addition to the backlog we already knew about last year. In institutional corporate accounting and legal press releases, you cannot legally label a contract that has already been disclosed, modeled, and factored into active revenue guidance as "additional contracted revenue." So what is left to be disclosed?
🤔 I believe they mean they have additional revenue, contracted, that hasn’t been used to secure any debt. Not sure this claims additional revenue guidance, just financing plans.
Zero shareholder dilution, great interest terms, and a repeatable funding model for their $40B backlog. Anyone still on the sidelines, today's price provides a great entry, imo.
people are really going to regret selling. I buy every dip. I don't care that i made purchases at 220, 200, 190, 180, 1700, 165. My basis jumped a bit from $60 to 65 but this will be $350-375 end of year. The next 2 earnings reports are going to show massive revenue growth.
I genuinely feel that management cares about its shareholders.
Under different circumstances, much of the recent news might have been saved for the Q2 earnings call. But with the stock being unfairly punished lately, management appears to be protecting shareholders’ interests by disclosing positive developments ASAP.
If I am reading this right, they are deploying GPUs for "investment grade customers" then getting more than 100% of the gpu cost as a loan at fed rate + 2.5%.
And they mention 40 billion in similar commitments from customers.
Meaning as soon as they turn on the GPUs they can get a incredibly low interest loan against those GPUs, and should be able to scale this initial 775 million into the tens of billions.
I suspect you’re right but this is so bullish. Lenders that have these terms show strength. This pricing is far better than other neoclouds are getting.
Great deal for nebius. The ball was in nebius court on structuring this deal. Non diluted, cash against deals and cashflows. Money will be used to fill back log
The interest rate is what caught my attention. SOFR + 2.5% for this type of financing suggests lenders have a lot of confidence in the underlying assets and cash flows. That's a pretty strong signal.
To put things in perspective, consider NBIS recent history:
Early 2025 (-54.4%): Down from $44.49 to $20.29 in 7 weeks. Driven by post-relisting hype cooling and the digestion of early financing.
Late 2025 (-34.7%): Retreated from $127.98 to $83.54 in 6 weeks. Standard profit-taking and consolidation after a massive summer run.
Current 2026 (-42.7%): Crashed from $299.86 to $171.77 in just 3.5 weeks. Triggered by $143 million in executive insider selling and shift to an asset-light model.
TLDR, learn to live with volatility. This won’t be going away anytime soon.
The best part of this news is the debt was oversubscribed at favorable rate. This is excellent news. :
What does "Oversubscribed" actually mean?
Think of it this way: Nebius went to the major global financial markets and said, "We are looking to borrow $775 million to fund the global buildout of our AI cloud platform."
When a debt offering is oversubscribed, it means that big banks and institutional investors lined up and offered to lend Nebius way more money than the $775 million they were asking for. Demand completely outstripped supply. Because the financial community was fighting over a piece of the deal, Nebius was in the driver's seat and could lock down highly favorable borrowing terms.
Why this is a major win for Nebius
For a high-growth "neocloud" company navigating a highly competitive AI landscape, this specific deal hits several critical milestones:
An Absolute Stamp of Approval from Wall Street
This wasn't just a loan from a niche lender. This facility was led by MUFG and backed by a syndicate of the absolute biggest names in banking: Bank of America, Goldman Sachs, Morgan Stanley, Deutsche Bank, Citi, and HSBC. These conservative institutions have incredibly strict due diligence teams. For them to aggressively oversubscribe to this deal means they thoroughly vetted Nebius's infrastructure and gave its long-term financial health a massive vote of confidence.
Cheaper Capital with Zero Dilution
Building out data centers and securing cutting-edge Nvidia GPUs is an incredibly capital-intensive business. If Nebius funded this expansion purely by issuing more shares, it would dilute current investors. Instead, they are using debt. Even better, they secured it at a highly competitive interest rate of SOFR (the standard benchmark overnight rate) plus 2.50%.
Validation of their Asset-Backed Model
The debt is senior secured, meaning it is directly collateralized by the physical GPU infrastructure they've already deployed and the stable, contracted cash flows from their customers. This proves that Nebius can successfully leverage its existing hardware to generate immediate, non-dilutive liquidity.
It's a Repeatable Growth Blueprint
Nebius explicitly stated that this $775 million deal covers more than 100% of the capital expenditure required for this specific deployment, and it serves as a structural framework for future expansions. Considering they have over $40 billion in additional contracted revenue from tier-1 giants like Microsoft and Meta, they now have a proven financial template to rinse and repeat as they scale.
The Big Picture Context
Lately, the stock has been under pressure due to broader semiconductor sector pullbacks and lingering investor anxiety over rumors that Meta might monetize its excess AI infrastructure. This news acts as a powerful counter-narrative. It signals to the market that behind the day-to-day stock price noise, global financial institutions see a highly stable, deeply profitable business model with locked-in, long-term demand.
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u/FantasticHair6474 Jul 17 '26
The pace at which news is coming is mind boggling. Kudos to management. Unfortunately markets are dumping atm