Nebius lands $3.5 billion credit facility from Citi to fuel AI build-out

Nebius Group just borrowed $3.5 billion from Citi to spend on computer chips and buildings to put them in. The Nasdaq-listed AI cloud company (ticker: NBIS) announced the senior secured credit facility on October 22, 2026. The money is earmarked for data center development, GPU purchases and general corporate purposes. The terms of the deal The facility has a 364-day maturity. Pricing starts at Term SOFR plus 2.75%. The word “secured” matters too. It means Citi has a claim on specific assets if things go sideways, similar to how a mortgage lender can lean on the house. This also is not Nebius’s first trip to the lending window. In July 2026, the company announced a $775 million facility backed by GPUs and customer contracts, arranged through a syndicate led by MUFG. The Citi facility is roughly four and a half times the size of the July deal, arriving only a few months later. The collateral that makes lenders comfortable The company has more than $40 billion in long-term contracted revenue from investment-grade customers, a list that includes Microsoft and Meta. That figure dwarfs the new facility by more than tenfold. From Yandex to Amsterdam Nebius has had a more eventful corpora...