Let me explain
The contemplated offtake is up to 50MW, half of the initial 100MW currently under construction as part of the first phase's planned 360MW, and is expected to become operational in phases from Q4 2027. The framework was reached six weeks after construction start was announced and was signed on the sidelines of NVIDIA's GTC Berlin conference; Nebius is expected to deploy NVIDIA-powered computing infrastructure. HUMAIN CEO Tareq Amin called Nebius its first customer, and NEOM CEO Eng. Aiman Al-Mudaifer said the agreement reflects growing global demand for AI-ready infrastructure and NEOM's role in enabling advanced industries. The agreement value and construction contractor were not announced (NEOM, 21 October 2026).