Nebius tests the neocloud playbook with $40 billion in planned spending

AI Summary

Nebius plans to spend $40 billion expanding AI infrastructure, financing the program through customer prepayments and loans. Delays at a Microsoft data center have raised questions about the funding model and execution risks.

Nebius plans to fund its $40 billion AI infrastructure expansion through customer prepayments and loans, even as delays at a Microsoft data center raise questions about its financing model.