Lambda Closes $1B Investment-Grade Loan to Expand GPU Infrastructure
aiinsider ·
AI cloud provider Lambda has successfully closed a $1.008 billion investment-grade delayed draw term loan to expand its GPU infrastructure. This financing is specifically designated for three committed customer deployments involving two investment-grade offtakers across multiple data centers. The facility represents Lambda's first U.S. fixed-rate financing and its inaugural institutional debt deal exceeding $1 billion. It received an A (low) rating from Morningstar DBRS and a Baa1 rating from Moody’s, with interest priced at 6.78%. The loan matures on May 30, 2033, and is secured by funded GPU servers, related infrastructure, and contracted cash flows. CEO Michel Combes noted that this capital supports long-term infrastructure development rather than short-term gains. J.P. Morgan served as the sole coordinating lead arranger and bookrunner for the transaction.
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