Nebius raised $775 million by borrowing against its GPUs. It has $40 billion more contracts to securitise.
THE SO WHAT
GPU capacity and long-term AI contracts are now collateral — Nebius just raised $775M at SOFR + 2.50% with another $40B of contracts to potentially securitize. If you control meaningful compute or long-duration AI workloads, you’re sitting on a financeable asset class, not just opex.
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