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Rent-a-GPU outfit Nebius promises rapid 1 GW powerup plan isn’t nebulous
Nebius, a cloud provider renting access to GPUs, says it aims to add more than one gigawatt of data-centre capacity annually from 2027. The plan highlights the scale of infrastructure investment being driven by demand for AI computing, but also depends heavily on debt, customer deposits and the company’s ability to profitably resell capacity.
The company expects capital expenditure of $20–25 billion in 2026 to bring 800–1,000 MW online, with customer prepayments expected to exceed $9 billion. It secured a $775 million asset-backed debt facility in July and is considering partner-funded sites; Nebius estimates each deployed megawatt could generate $20–25 million from medium-term leases or $40–50 million from shorter contracts. Although it expects up to 1 GW of connected power by year-end, much may not generate revenue until the first half of 2027; its 2026 revenue forecast is $3–3.4 billion, after $582 million in the latest quarter.
In short
- Nebius targets annual gigawatt-scale AI data-centre expansion from 2027.
- Its expansion requires vast spending, customer prepayments and debt.
- Full revenue from new capacity may not arrive until 2027.
Explained simply
Nebius is a cloud provider: it operates data centres and rents computing power to customers. Much of that power comes from graphics processing units, or GPUs, which are used to train and run artificial intelligence systems as well as other demanding software.
Building data centres requires large amounts of money, electricity and specialist equipment. Nebius plans to fund its expansion through a mix that includes borrowing, payments made in advance by customers and possible investment from partners; it will need to secure enough paying customers to make that capacity profitable.
The plans matter because demand for AI computing is prompting companies to build infrastructure on a very large scale. But connecting a data centre to the power grid does not mean it can immediately earn money: construction, equipment installation and customer demand all affect when capacity can be used and generate revenue.