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Nebius plans to spend $40–45 billion on artificial intelligence infrastructure in 2027, even as some capacity for Microsoft faces delays (techcrunch.com). For businesses in Kazakhstan choosing cloud computing services, the case offers a practical lesson: check delivery dates and compensation terms.
Customer advances will help fund the expansion
Nebius is building its business around renting out computing capacity for AI. The company plans to fund its expansion through customer advance payments and loans secured against signed contracts. Together, these sources are expected to cover up to 85% of its planned capital spending.
But its site in Vineland, New Jersey, is already several months behind schedule. Nebius expects to deliver just over half of the capacity for Microsoft by the end of 2026. The rest is expected in the second quarter of 2027. The contract is worth up to $19.4 billion.
Capacity delays have already cut the revenue forecast
Nebius attributes the delay to operator DataOne shutting down temporary power earlier than expected during the switch to fuel cells. The company cut its 2026 revenue forecast by $200 million to $3 billion. Its shares closed the day down 17%.
“Building at this scale is hard, and delays are part of our industry right now,” said Nebius CEO Arkady Volozh. “We are not immune.”
Kazakhstan teams should check delivery and compensation terms
For a team in Kazakhstan planning to rent AI computing capacity, the way the deal is structured is useful to understand. The customer pays upfront, and the supplier puts that money towards construction. When considering an offer like this, check separately when the equipment will be ready and what happens if that date slips.
Here’s an important detail: even the Microsoft contract includes protection against delays. It contains financial penalties for late delivery. If deadlines are missed and no replacement capacity is available, Microsoft can terminate the affected service after a grace period.
If you’re budgeting for cloud services in a project, ask about the terms for backup capacity and compensation for delays. When comparing offers, including cloud credits for startups, distinguish between the amount of support and the date you can actually start using the computing capacity.
Track suppliers’ plans alongside their financial results. For context, see Microsoft and Meta’s quarterly results. For Nebius, the next test of its promises is the delivery of the remaining capacity in New Jersey in the second quarter of 2027. Microsoft has not publicly announced that it is cancelling the contract.
