Nebius secures $3.5B Citi bridge facility

Nebius Group N.V., an AI cloud company listed on Nasdaq under the ticker NBIS, has secured a $3.5 billion senior secured financing facility from Citi. The agreement provides short-term funding intended to support the company’s rapid expansion of computing infrastructure. The facility is structured as a bridge-style arrangement with a maturity of 364 days, giving Nebius access to substantial capital over the next year.

Nebius says the facility advances its diversified and sequenced funding strategy.

The new senior secured facility totals $3.5 billion and is denominated in U.S. dollars. It initially carries an interest rate of Term SOFR plus 2.75 percentage points. The margin can increase to a maximum of 3.50 percentage points over Term SOFR, subject to other adjustments specified in the agreement.

The 364-day maturity underscores the short-term nature of the funding. As a bridge facility, it is intended to cover near-term requirements rather than serve as a long-dated capital solution. Nebius indicates that the terms provide access to capital at attractive rates, aligning with its objective of managing funding in a staged manner.

Nebius plans to deploy the proceeds toward data center development, GPU purchases and general corporate purposes. The company is focused on expanding its AI cloud capacity, and the facility is expected to support the construction of additional data centers and the acquisition of high-performance GPUs needed for AI workloads.

The new financing is positioned to strengthen Nebius’s ability to manage near-term construction projects without immediately committing to another large, longer-term capital raise. This approach allows the company to align its capital structure with project timelines and evolving demand for AI infrastructure.

The Citi facility adds to a series of recent financings by Nebius. In July, the company announced a $775 million senior secured debt facility, and in August it completed a $5.75 billion convertible notes offering. Together with the new $3.5 billion arrangement, these transactions highlight the scale of capital being directed toward Nebius’s AI infrastructure build-out.

Nebius reports more than $40 billion in long-term customer commitments. These contracts represent a substantial source of potential future revenue that can underpin continued investment and additional borrowing needs. The presence of sizeable commitments provides a backdrop for the company’s decision to maintain a sequenced approach to funding.

The latest financing comes in the wake of increasing strategic backing from Nvidia (NVDA). Three months before the new facility, Nvidia (NVDA) disclosed a 9.3% beneficial ownership stake in Nebius following a $2 billion investment earlier in 2026. The relationship links a major AI chip supplier with a cloud provider that relies heavily on Nvidia hardware.

Taken together, the Citi facility, broader funding program and large customer commitments illustrate Nebius’s efforts to scale its AI cloud infrastructure. The company is using short-term secured financing alongside other debt instruments and strategic investment to support expansion in response to growing demand for AI computing capacity.