At Nebius, a $775M Loan Backed by GPUs and Client Contracts Is the Antidote to a 40% Slide
Published on 07/19/2026 at 16:53 | Redaktion boerse-global.de
Nebius Group is turning to one of the largest debt facilities in its short history — a $775 million secured credit line led by MUFG — to steady itself after a brutal stretch that erased more than a third of its market value in a single month. The financing, signed on July 10, 2026, and maturing in October 2030, is secured by the company’s deployed GPU infrastructure and the contractual cash flows of an investment-grade client. It carries an interest rate of SOFR plus 2.50 percentage points.
The move comes as Nebius shares closed Friday at €155.52, up 3.62% on the day but still 40.41% below the 52-week high of €261 hit on June 22. Over the trailing 30 days, the stock has shed 36.35%. Yet looking back 12 months, the equity has surged 235.17%, and year-to-date the gain stands at 111.59%. That stark divergence between headline annual performance and the recent pain defines the current tension around the name.
The sell-off was not Nebius-specific. It rippled through the broader AI infrastructure complex, triggered by fears that Meta — through its own Meta Compute cloud service — could reduce reliance on external providers. CoreWeave lost about 35% of its value over the same period. Nebius also faced a fresh regulatory headwind: New York imposed a moratorium on new hyperscale data centers in June, a move President Trump called “a terrible decision.” For a company whose growth depends on securing power and floor space for GPU clusters at breakneck speed, the regulatory signal adds a structural risk.
Against that backdrop, the MUFG-led syndicate — which includes ABN AMRO, Bank of America, Deutsche Bank, HSBC, Citi, Crédit Agricole, ING, Morgan Stanley, and Goldman Sachs — was oversubscribed. Nebius plans to extend this collateralization model to a portion of its contracted revenues exceeding $40 billion from Microsoft and Meta. Chief Operating Officer Ophir Nave described it as part of a “disciplined, diversified approach” to the capital structure.
Should investors sell immediately? Or is it worth buying Nebius?
The company’s operating numbers remain explosive. First-quarter 2026 revenue hit $399 million, up 684% year-over-year. Adjusted EBITDA came in at $129.5 million. Net income of $621.2 million, however, was inflated by a $780.6 million gain on investments; on an adjusted basis, the net loss widened to $100.3 million. Capital expenditures surged 355% to $2.47 billion, underscoring the capital intensity of the infrastructure buildout.
Valuation remains contested. The stock trades at a price-to-earnings ratio of roughly 61.9, more than double the software sector’s average of 28.6. Analysts at Simply Wall St peg a fair P/E at 70.1, implying potential upside of 28% in an optimistic scenario; critics see overvaluation as high as 48%. Investor Jim Cramer, speaking on July 16, described Nebius as “a very good business” but called the entry point “unfavorable” when the stock was already 42% off its high. He identified technical support between $122 and $137.
Technicals mirror the split personality. The 50-day moving average sits at €198.10, 21.49% above Friday’s close — signaling real short-term damage. The 200-day average of €119.28, however, still lies 30.39% below the current price, leaving the long-term uptrend intact. The 14-day relative strength index stands at 37.4, putting the stock closer to oversold territory than overbought. Annualized volatility has surged to 104%.
Nebius at a turning point? This analysis reveals what investors need to know now.
Adding to investor caution, insiders have recorded 33 transactions totaling roughly $27.8 million over the past 90 days, according to SEC filings. Nebius is also trying to reduce its capital burden by rolling out an asset-light model in which partners deploy its AI cloud platform without the company bearing the full investment cost. A compute deal with Reflection AI suggests the customer base is broadening beyond the hyperscaler giants, though Meta and Microsoft still dominate perception.
For the moment, the stock sits almost exactly on its 100-day moving average of €154.23, with the 200-day average well below. Whether this week’s rebound marks a genuine floor or merely a pause in the correction will hinge on how the regulatory uncertainty around data centers resolves — and whether the new, capital-preserving financing model can convince investors that the asset-intensive AI infrastructure business can generate durable returns without exhausting the balance sheet.
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Nebius Stock: New Analysis - 19 July
Fresh Nebius information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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