AIB Data Centers secures 50 MW deal with Nebius for AI cloud

New York - AIB Data Centers Inc. (NYSE American: AIB) has secured a binding agreement with Nebius (Nasdaq: NBIS) to acquire 50 megawatts of crucial IT capacity at their facility in the southeastern United States. The agreement covers an initial 12-year term, according to a press release statement. AIB anticipates that customer prepayments, alongside project-level debt and preferred equity, will cover a significant portion of the initial development costs for the 50 MW project.

The contracted capacity is backed by AIB’s existing 15-year Electric Service Agreement for 65 MW of utility load at the site. The company aims to deliver the capacity in two data halls. Earlier, AIB completed a strategic acquisition in Texas, raising their total contracted power capacity to roughly 120 MW.

AIB specializes in developing and operating data centers tailored for artificial intelligence and high-performance computing. Nebius offers AI cloud infrastructure for developers and enterprises. Andrey Korolenko, Chief Product and Infrastructure Officer at Nebius, emphasized that AIB's existing power position enabled them to bring this capacity online within a reasonable timeframe for their customers.

Jerry Tang, Chief Executive Officer of AIB Data Centers, stated that the agreement validates their strategy of securing power in targeted markets and converting it into long-term contracted revenue with AI infrastructure companies. The deal includes optional renewals that could potentially increase the total contract value, though specific financial details remain undisclosed.