{
  "id": 16033690,
  "title": "Nebius gets $3.5 billion Citi facility for data center growth",
  "url": "https://urgent.news/2026/10/22/nebius-gets-3-5-billion-citi-facility-for-data-center-growth",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-22T11:02:32.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/nebius-gets-35-billion-citi-facility-data-center-growth-6482346"
  },
  "original_language": "en",
  "account": "Amsterdam-based AI cloud services company Nebius has secured a $3.5 billion financing facility from Citi, according to a report on Thursday. The funding aims to support the firm's ongoing data center development and GPU acquisitions as it strives to expand its capacity. The announcement arrived amid a recent decline in shares of rival AI infrastructure companies, following a sharp drop in value of CoreWeave bonds. Nebius shares this classification with CoreWeave, along with other top neocloud firms specializing in AI data centers. The new facility, maturing in 364 days, carries an initial interest rate of 2.75% above the SOFR benchmark rate. This additional financing provides Nebius with greater flexibility in the timing and structure of future fundraising efforts to support growth in 2027 and beyond. Its funding sources also include customer prepayments, operating cash flow, and long-term contracts with investment-grade customers, such as Microsoft and Meta. With around $10 billion in convertible bond debt outstanding following a $5.75 billion issuance in August, Nebius has other financing options available to further support its near-term capacity build-out.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}