Morningstar

Nebius Shares Down on $3.5 Billion Loan for Data Centers, GPUs

Provided by Dow Jones Oct 22, 2026, 5:43:00 PM

By Natalie Weger

Shares of Nebius Group slumped after the technology company entered into a $3.5 billion senior secured facility.

The stock decline 7.3% to $158.89 on Thursday. The stock is up 90% year-to-date.

The AI cloud company said that the facility, provided by Citi, provides access to capital at rates that support Nebius's global capacity build-out and advances the company's funding strategy. It complements a funding base that includes customer prepayments and operating cash flows with other financing mechanisms, Nebius Group said.

The facility has a 364-day maturity and initially bears interest at Term SOFR with 2.75% per annum, increasing up to a maximum of 3.50% per annum.

Proceeds will be used for purposes such as data center development and GPU procurement, Nebius Group said.

Write to Natalie Weger at natalie.weger@wsj.com.

(END) Dow Jones Newswires

October 22, 2026 13:43 ET (17:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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