BlockBeats News, July 17th, neocloud company Nebius has completed its first approximately $775 million senior secured debt financing to expand its AI cloud platform. The financing was backed by deployed GPU infrastructure and investment-grade customer contract cash flows. The debt terms reportedly include a maturity in 2030, an interest rate of SOFR+2.50%, and the financing, combined with customer cash flows, covers over 100% of the related capital expenditure requirements.

Nebius currently holds over $40 billion in contract revenue from clients such as Microsoft and Meta.