Optional Renewals Could Increase Total Contract Value
AIB Data Centers Inc. (NYSE American: AIB) (“AIB” or the “Company”), a developer and operator of purpose-built data centers for artificial intelligence and high-performance computing, today announced that it has entered into a binding agreement with Nebius (Nasdaq: NBIS), the AI cloud company, for 50 MW of critical IT capacity at AIB’s facility located in the southeastern United States.
AIB expects the customer prepayments under the initial 12-year term, together with project-level debt and preferred equity, to fund a substantial portion of the initial development costs for the 50 MW project, significantly reducing AIB’s anticipated need for corporate-level common equity and limiting potential dilution to shareholders.
The contracted capacity is supported by AIB’s previously announced 15-year Electric Service Agreement for 65 MW of utility load at the site, which requires no significant additional electrical infrastructure upgrades. AIB expects to deliver the capacity in two data halls.
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Nebius is a leading AI cloud company, providing full-stack AI infrastructure for developers and enterprises building next-generation applications.
“Signing Nebius represents a transformational milestone for AIB,” said Jerry Tang, Chief Executive Officer of AIB Data Centers. “Our strategy is straightforward: secure power in attractive markets and convert that power into long-term contracted revenue with leading AI infrastructure companies. This agreement validates that strategy. We believe we have a capital-efficient path to develop the initial capacity. Our focus now turns to execution and delivering on schedule.”
“Time-to-power is the binding constraint on AI infrastructure today, and AIB’s existing power position gave us a clear path to bringing this capacity online on a timeline that works for our customers,” said Andrey Korolenko, Chief Product and Infrastructure Officer at Nebius. “This agreement adds dedicated capacity in the southeastern United States for training and inference workloads.”
The agreement follows several recent milestones for AIB, including the completion of a strategic acquisition in Texas that increased the Company’s total contracted power capacity to approximately 120 MW. Supported by an experienced leadership team with backgrounds at AWS, Amazon and Vantage Data Centers, AIB continues to advance its remaining power portfolio and pursue additional long-term agreements with leading AI and high-performance computing customers.
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