Nebius Group N.V. has secured access through Citi to $3.5 billion in financing as it seeks to add AI cloud computing capacity across global markets.
Separately, Nebius has described customer advances as one source of funding for capacity growth. In an August shareholder letter, it said about 70% of second-quarter deals included customer prepayments covering 50% to 60% of related capital spending.
The company said it signed four AI cloud deals in the second quarter, with an average total contract value of more than $1 billion per deal. Annual contract values ranged from $20 million to $25 million per megawatt. Nebius estimated a one-year, 10-month payback on the investment, compared with its historical range of two to three years, in the company’s earlier account of customer prepayments.
