Lambda raises $1B buying NVIDIA chips for lease to Microsoft
AI cloud company Lambda has raised $1 billion in private, short-dated debt to buy NVIDIA's AI chips, which it plans to lease out to Microsoft.
The move is all about scaling up fast. Lambda hopes quick rollouts and revenue will help pay off the debt.
JP Morgan Chase set up the deal, showing how big finance is backing AI growth.
Lambda secures $1B and $926 million loans
This isn't Lambda's first huge funding splash: it recently closed a $1 billion credit line in May and just locked in another $926 million loan for more NVIDIA GPUs.
There's even talk of a $3 billion pre-IPO round coming up, after last year's $1.5 billion raise at a $5.43 billion valuation.
Globally, companies have raised over $400 billion in AI-related debt in 2026 so far, proving just how fierce the race for AI tech has become.