AIB Data Centers signs 12-year Nebius deal for 50 MW capacity

AIB Data Centers, Inc. (NYSE American: AIB) issued a shareholder letter dated October 7, 2026, highlighting the execution of a 12-year agreement with Nebius for 50 MW of critical IT capacity at its CLT1 data center campus. The contract includes two potential five-year renewal periods and marks a shift for the company from assembling power sites to operating contracted AI infrastructure. CEO Jerry Tang described the deal as commercial validation of the company's strategy to convert secured power into long-term revenue.

Tang outlined a financing plan for CLT1 that relies on contractual customer prepayments and project-level debt or preferred equity. AIB stated it does not currently anticipate requiring corporate-level common equity to fund the development. The company positioned this approach as a method to balance growth with capital allocation and protect long-term shareholder value.

The announcement followed the completion of a strategic acquisition in Texas that increased AIB's total contracted utility power capacity from 65 MW to approximately 120 MW. Tang said this acquisition expanded the company's portfolio and added another site for pursuing high-performance computing opportunities. The broader development pipeline remains focused on AI workloads, with management continuing to evaluate additional power-rich sites.

The CEO framed the Nebius agreement as evidence that access to scalable power infrastructure creates strategic value in an AI economy constrained by power availability. AIB's stated business model progresses from securing power to contracting customer capacity, securing project funding, developing infrastructure, and generating long-term revenue. Tang said the company's immediate priority is advancing CLT1 toward delivery and meeting its commitments to Nebius while continuing to expand the development portfolio.