Nebius Group (NBIS) gained strong momentum after a series of announcements, pushing its stock up 4.42% to $185.57 on Monday. The AI-cloud operator closed a $775 million senior secured debt facility led by MUFG, priced at SOFR plus 2.50% and maturing October 31, 2030. Backed by deployed GPU infrastructure and contracted cash flows from an investment-grade customer, the deal was described as significantly oversubscribed. COO Ophir Nave called it “an important step” in building a sustainable AI cloud business with durable margins.
Alongside the financing, Nebius launched an asset-light partnership model that allows infrastructure partners to deploy its AI cloud platform in their own data centers. Partners finance and operate the facilities while Nebius provides architecture, hardware design, and the software stack, then markets the capacity. With over $40 billion in additional contracted revenue from giants like Microsoft and Meta, the company expects to raise further capital on similar terms.
Adding fuel, Freedom Capital analyst Paul Meeks upgraded NBIS to Buy from Hold, lifting his price target to $200 from $150. Meeks cited Q1 revenue of $399 million and a steep growth curve, with his Q2–Q4 estimates at $629 million, $888 million, and $1.56 billion—slightly more aggressive than consensus. The stock rose 3.7% in premarket trading after the upgrade.
In a separate filing, Nvidia disclosed a 9.3% passive stake in Nebius, reflecting the $2 billion investment announced in March. The position—held via 1.19 million shares directly and a pre-funded warrant for 21.07 million more at an effective price of $94.94 per share—highlights the strategic loop: Nvidia powers Nebius’ cloud while benefiting from its growth. The arrangement fuels both a key customer and an opportunity for sustained chip demand, though critics question whether such circular financing inflates independent demand.
