According to reports, AI cloud service provider Nebius unveiled a planned infrastructure investment of approximately $40 billion for 2027 during its Q3 earnings call, with capital expenditures potentially funded up to $40–45 billion through customer prepayments and loan facilities tied to client contracts, covering up to 85% of total spending. However, its key client Microsoft’s data center project in Vineland, New Jersey, USA, has been delayed by several months. The Microsoft contract, valued up to $19.4 billion, currently has only slightly more than half of the planned compute capacity scheduled for delivery by year-end, with the remainder postponed to Q2 2027.

The delay stems from DataOne, a third-party operator, ceasing temporary power generation prematurely; the facility had previously been fined $11 million over gas generator licensing issues. Nebius stated that its self-built data centers remain on schedule or ahead of plan, but contract delays may lead to increased costs, deferred revenue, and trigger default penalties or service termination clauses. The company expects 2027 revenue between $12–13 billion, revising its 2026 revenue forecast downward by $200 million to $3 billion. Q3 revenue reached $981 million, surging 571% year-over-year, yet the stock dropped 17% on the same day.