AIB Data Centers, an AI and high-performance computing data center developer and operator, has entered into a binding 12-year agreement with AI cloud company Nebius for 50 MW of critical IT capacity at AIB’s facility in the southeastern US.
AIB wrote in a press release that the customer prepayments under the initial term, together with project-level debt and preferred equity, are expected to fund a substantial portion of the initial development costs of the 50 MW project. This is expected to significantly reduce AIB’s need for corporate-level common equity and limit potential dilution to shareholders.
“Signing Nebius represents a transformational milestone for AIB,” said Jerry Tang, AIB Data Centers Chief Executive Officer. “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.”
AIB has previously secured a 15-year Electric Service Agreement for 65 MW of utility load at the facility that requires no significant additional electrical infrastructure upgrades.
“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, Nebius Chief Product and Infrastructure Officer. “This agreement adds dedicated capacity in the southeastern United States for training and inference workloads.”
Securing power and building AI-optimized data centers around that power is at the core of AIB’s strategy. In September, it acquired 29.4 acres of land in Texas with a combined 55 MW of energized and contracted service across two sites. The first site is 5 acres and has 15 MW of energized service with an existing building shell, shortening the time to deployment of digital infrastructure. The second site is larger at 24.4 acres and with 40 MW under development, it presents a viable path to scaling the project in future.