AI cloud firm Nebius has entered into a $775 million senior secured debt facility.

The company will use the proceeds to support its global buildout.

The funding is Nebius' first senior secured debt facility and is backed by the company's already deployed GPU infrastructure and contracted cash flow from deals with an investment-grade customer.

The facility will mature at the end of October 2030, priced at a Secured Overnight Financing Rate (SOFR) of +2.50 percent. Nebius said that the facility, combined with cash flows from the customer agreement, will cover the capex needed for the customer deployment.

It went on to note that with its contracts with the likes of Microsoft and Meta already in the realm of $40 billion, it expects to raise capital at similar rates to this secured debt facility in the future.

Ophir Nave, chief operating officer of Nebius, said: "We are executing across all the areas that matter for growth: securing capacity, raising capital, strengthening our product offering, and developing other capital-efficient models to scale even further and faster.

"This financing is an important step in that strategy, and reinforces our confidence that our disciplined, diversified approach — from owned data centers to asset-light partnerships — together with robust demand for our high-value software stack, will enable us to build a sustainable AI cloud business with strong and durable margins.”

The debt facility was led by MUFG as the structuring agent, sole bookrunner and underwriter. MUFG, together with ABN AMRO Bank N.V., Bank of America, Deutsche Bank, and HSBC, acted as mandated lead arrangers. Citi, Crédit Agricole CIB, ING, and Morgan Stanley acted as senior lead arrangers. Goldman Sachs also participated in the syndicate.

In March 2026, Nebius was looking to raise $4 billion in convertible senior notes split into two series. That month, Nvidia invested $2bn in the cloud provider.