Shares of Nvidia-backed Nebius (NBIS) gained more than 4% in morning trade on Friday after the company announced its first-ever senior secured debt facility worth $775 million. The financing was backed by GPU hardware already deployed in the company's data centers and cash flows from an existing customer contract. The debt structure allows Nebius to fund AI infrastructure expansion without issuing new equity, addressing investor questions about how the company would finance its projected $22.5 billion in capital expenditures during 2026.
Nebius Secures $775 Million Asset-Backed Debt Facility
Nebius said its $775 million loan was backed by GPU hardware already deployed in its data centers and cash flows from an existing customer contract. Unlike a traditional corporate loan, the facility is tied to revenue-generating assets already in operation. The company said the structure converts existing infrastructure into fresh growth capital and could be replicated across future customer deployments.
Nebius said it has more than $40 billion in contracted revenue from investment-grade customers, including Microsoft and Meta Platforms, creating opportunities to use similar financing structures going forward. The company also confirmed it has delivered its latest scheduled capacity tranche to Microsoft and remains on track with the remainder of that contract.
Rival CoreWeave closed an $8.5 billion delayed-draw term loan facility earlier this year, demonstrating that Nebius isn't alone in leaning on asset-backed debt to fund GPU buildouts.
Retail Sentiment Surges to Extremely Bullish
Retail sentiment on Stocktwits around NBIS stock jumped to 'extremely bullish' from 'bullish' territory over the past day. Chatter surged to 'high' from 'normal' levels, with data showing an over 150% jump in message volume over the last 24 hours.
Retail traders on the platform said there was a "buying opportunity" after a rough stretch for the stock falling nearly 20% this year. One trader pointed to the roughly 42% pullback from Nebius's nearly $300 high, noting that corrections tend to be fast and furious and can create very good buying opportunities. Another retail investor said it was an opportunity to "buy low" and "buy the fear if fundamentals haven't changed."
Broader Market Declines as NBIS Outperforms
NBIS stock was among the top trending tickers on Stocktwits at the time of writing. The stock has more than doubled in value this year. Meanwhile, the broader market was trading lower, with the SPDR S&P 500 ETF (SPY) down 0.84%, the SPDR Dow Jones Industrial Average ETF (DIA) slipping nearly 0.1%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) plummeting over 1.7%.
FAQ
What debt deal did Nebius announce on Friday?
Nebius announced its first-ever senior secured debt facility worth $775 million, backed by GPU hardware already deployed in its data centers and cash flows from an existing customer contract.
How much contracted revenue does Nebius have from customers?
Nebius said it has more than $40 billion in contracted revenue from investment-grade customers, including Microsoft and Meta Platforms.
How did NBIS stock perform compared to the broader market on Friday?
NBIS stock gained more than 4% in morning trade on Friday, while the SPDR S&P 500 ETF (SPY) was down 0.84% and the Invesco QQQ Trust (QQQ) plummeted over 1.7%.
