Neocloud Lambda secures $1B in debt to buy more chips
techcrunch ·
Lambda, an AI cloud company, has raised $1 billion in private short-dated debt to buy Nvidia AI chips that it will lease to Microsoft, according to Bloomberg. The deal was arranged by JP Morgan Chase and suggests Lambda expects to quickly deploy the chips and generate revenue to repay the debt. This follows a $1 billion secured credit facility closed in May and a $926 million loan announced this week to fund Nvidia GB300 GPUs for a deployment under contract with Nvidia. The new debt comes as Lambda is reportedly in talks for a $3 billion pre-IPO round. Previously, Lambda raised $1.5 billion in venture capital in November at a $5.43 billion post-money valuation. Bloomberg data indicates banks and tech companies have raised over $400 billion in AI-related debt globally in 2026 so far.
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