Nebius Debt, Lenders and Contracts
The public financings and compute contracts naming Nebius, with lenders, pricing and sources.
Nebius has raised $13.5B in 5 public debt and structured financings since 2025, from 10 named lenders. Leads include ABN AMRO, Bank of America, Deutsche Bank and 2 more.
It is the seller in 4 contracts in the Offtake Tracker, with Meta, Microsoft and Reflection, Cohere, a U.S. neolab and a quant trading firm; GPU capacity contracts total $51.3B.
Profile
| Type | Neocloud |
| Headquarters | Amsterdam, Netherlands |
| Founded | 2024 |
| Listing | NASDAQ: NBIS (SEC EDGAR) |
| Market cap | Over $50B at Oct 9, 2026 (CompaniesMarketCap) |
| Website | nebius.com |
Debt at Jun 30, 2026
$8.5B of debt and $8.0B of cash at Jun 30, 2026, from the 6-K filed Aug 12, 2026. Leases are not counted as debt.
| Facility | Principal | Rate | Maturity | Security | Rating |
|---|---|---|---|---|---|
| 2.00% Convertible Senior Notes due 2029Convertible notes | $588M | 2.00% | Jun 2029 | Unsecured | - |
| 1.00% Convertible Senior Notes due 2030Convertible notes | $1.8B | 1.00% | Sep 2030 | Unsecured | - |
| 3.00% Convertible Senior Notes due 2031Convertible notes | $613M | 3.00% | Jun 2031 | Unsecured | - |
| 1.25% Convertible Senior Notes due 2031Convertible notes | $3.1B | 1.25% | Mar 2031 | Unsecured | - |
| 2.75% Convertible Senior Notes due 2032Convertible notes | $1.8B | 2.75% | Sep 2032 | Unsecured | - |
| 2.625% Convertible Senior Notes due 2033Convertible notes | $2.1B | 2.625% | Mar 2033 | Unsecured | - |
Financings (5)
| Date | Amount | Type | Lenders | Pricing | Source |
|---|---|---|---|---|---|
| Aug 19, 2026 | $5B | Convertible notes | Not named | 0.50% (2030) and 4.50% (2034); conversion prices ~$313.46 / ~$324.65; accretes to 110% / 125% | Nebius |
| Jul 17, 2026 | $775M | GPU-backed facility | MUFG, ABN AMRO, Bank of America, Deutsche Bank, HSBC +5 | 1-month Term SOFR (0% floor) + 2.50% | Nebius |
| Mar 18, 2026 | $4B | Convertible notes | Not named | 1.250% (2031) and 2.625% (2033); conversion prices ~$183.22 / ~$180.31; accretes to 120% | Nebius |
| Sep 10, 2025 | $2.8B | Convertible notes | Not named | 1.00% (2030) and 2.75% (2032); conversion price ~$138.75; accretes to 115% at maturity | Nebius |
| Jun 2, 2025 | $1B | Convertible notes | Not named | 2.00% (2029 notes) and 3.00% (2031 notes) | Nebius |
Compute contracts (4)
| Date | Buyer | Seller | Type | Value | Term | Source |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | Reflection, Cohere, a U.S. neolab and a quant trading firm | Nebius | GPU capacity | $4B | - | MarketBeat |
| Mar 16, 2026 | Meta | Nebius | GPU capacity | $27B | 5 yrs | SEC |
| Nov 11, 2025 | Meta | Nebius | GPU capacity | $2.9B | 5 yrs | SEC |
| Sep 8, 2025 | Microsoft | Nebius | GPU capacity | $17.4B | 5 yrs | SEC |
Inference
Nebius Token Factory serves open-weight models through a large public LLM router. Rank is by tokens of other labs' open-weight models in the 7 days to Oct 9, 2026. Nebius Token Factory models and prices.
| Provider | Open-weight models | Rank, 7 days | Top models |
|---|---|---|---|
| Nebius Token Factory | 10 | #45 | Qwen3 30B A3B Instruct 2507, Gemma 3 27B, Qwen3 235B A22B Instruct 2507 |
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