TNW | Finance
Nebius borrows $3.5bn from Citi as it says AI compute prices keep rising
The Nebius loan comes as investors question how AI clouds fund their build-outs. Its revenue chief says Nebius is not carrying CoreWeave’s kind of debt.
Via TNW | Finance
·Excerpt
Nebius has signed a $3.5 billion loan facility with Citi to build more data centres and buy GPUs. The Amsterdam-based AI cloud company announced the deal on Thursday. The secured facility runs for 364 days.
Interest starts at the Term SOFR benchmark rate plus 2.75% a year. That margin can rise to 3.50%, subject to other adjustments. Nebius said it would use the money for data centre development, GPU purchases and general corporate purposes. Citi is the lead arranger on…
Courtesy
This story was originally published by TNW | Finance. All rights belong to the original publisher.
Read the original on thenextweb.com ↗