Report: Nebius Raises €250 Million for Data Center Near Lille
Key Facts
Investing.com reported that Nebius Group raised about €250 million, equivalent to roughly $279 million, for a data center project in Béthune, near the French city of Lille. The report attributed the information to the project the company is targeting for development at the site, and the French financing was not included in the latest open list of Nebius news. On October 22, the company published an official announcement of a $3.5 billion credit facility from Citi, financing separate from the amount cited in the French report. The €250 million amount therefore remains a report attributed to a press report, while the Citi facility is financing announced by the company itself. Another press report said Nebius shares rose about 9.6% in morning trading on October 27 after the French financing news was published.
The stock’s closing performance offers another view of that day’s move: EL7 data showed Nebius shares, listed under the ticker NBIS, closing at $170.47 on October 27. The shares had closed at $153.27 in the previous session, according to the same data. The move followed trading reports that the stock had risen about 9.6% during the morning hours. The press report links the share move to the French financing news, but that does not prove the financing alone caused the rise. The financing amount and the Béthune project also appeared in a press report, while no official announcement about them appeared in the company’s open news list.
Five days earlier, on October 22, Nebius had announced a $3.5 billion secured facility provided by Citi to support its global capacity expansion. The company set the facility’s maturity at 364 days, with an initial interest rate of 2.75% per year above the term Secured Overnight Financing Rate, rising to a maximum of 3.50%. Nebius said the proceeds would go toward developing data centers and purchasing GPUs, as well as general corporate purposes. It also said it had more than $40 billion in long-term contractual commitments with investment-grade customers. This officially announced facility provides broader financing context for the company’s expansion, but remains separate from the French financing amount cited in the press report.
In its second-quarter shareholder letter, Nebius pointed to new sites in France as part of its expansion plans and said it expects to end 2026 with 5 gigawatts of contracted power capacity. A Choose France summit document also said the Béthune project targets investment of more than €8 billion over several years to develop infrastructure and cloud services, with a target capacity of 240 megawatts at the site. The document said the first phase was expected to begin during 2026. This places the Béthune project within Nebius’s expansion in France, alongside the company’s stated target of increasing contracted power capacity. These plans come as the company directs investment toward data centers and GPUs, according to its announcement of the Citi facility.