Nebius borrows $3.5bn from Citi as it says AI compute prices keep rising

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 […] This story continues at The Next Web

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