Nebius unveils $40 billion spending plan for 2027, Microsoft data center deliveries delayed
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At its third-quarter earnings call, Nebius announced a $40 billion spending plan for 2027, far above Wall Street expectations. The company plans to cover up to 85% of its $40 billion to $45 billion in 2027 capital expenditures using customer prepayments and loans secured by customer contracts, and held $7.4 billion in cash at the end of the quarter. Deliveries at a Microsoft data center in Vineland, New Jersey—one of its largest customers—have been delayed by several months: under a contract worth up to $19.4 billion, only slightly more than half of the capacity is scheduled for delivery by the end of the year, with the rest pushed to the second quarter of 2027. Nebius cited delays at third-party sites including New Jersey in cutting its 2026 revenue forecast by $200 million to $3 billion.
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- TechCrunch · AINebius tests the neocloud playbook with $40 billion in planned spending
Nebius outlined $40 billion in planned 2027 spending on its Q3 earnings call, funded largely through customer prepayments and contract-backed loans. Its Microsoft contract, worth up to $19.4 billion, is already slipping, with only just over half of the New Jersey capacity planned for delivery by year-end and the rest in Q2 2027, after operator DataOne wound down temporary generation faster than expected. Nebius cut its 2026 revenue forecast by $200 million to $3 billion and shares fell 17%.
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