Nebius CEO Arkady Volozh addressed tightening financing conditions for neocloud companies, noting that some asset-backed and debt-market sources have temporarily dried up. Despite these broader market constraints, management emphasized the company's healthy balance sheet and its ability to fund significant capacity expansion through customer advances and other instruments. The company recently secured a USD 3.5 billion senior secured facility from Citi with a 364-day maturity to support data center development, GPU procurement, and general corporate purposes. This financing strategy is designed to enable the construction of at least one gigawatt of AI computing capacity while leveraging more than USD 40 billion in long-term customer contracts. Investors are currently weighing the speed of Nebius's planned capacity expansion against the availability and cost of capital. The reliance on customer advances reduces immediate external funding needs, but the debt-backed investment highlights the critical importance of high utilization rates, successful contract execution, and robust cash generation to sustain growth.