Neocloud Lambda secures $1B in debt to buy more chips

image via TechCrunch

August 28, 2026, 8:24 PM

• •Bloomberg reported that Lambda raised $1 billion in private, short-dated debt.
• •Lambda plans to use the debt to buy Nvidia AI chips and lease them to Microsoft.
• •The deal was reportedly arranged by JPMorgan Chase.
• •Lambda previously closed a $1 billion secured credit facility in May.
• •The company also announced a $926 million loan this week to fund Nvidia GB300 GPUs for a contracted deployment.
• •Bloomberg data says banks and tech companies have raised more than $400 billion in AI-related debt globally in 2026 so far.

Lambda has raised $1 billion in short-dated private debt to buy Nvidia AI chips that it plans to lease to Microsoft, according to Bloomberg. The financing, reportedly arranged by JPMorgan Chase, reflects a strategy of quickly deploying GPUs and repaying the debt from customer revenue. The deal follows other major borrowing by Lambda, including a $1 billion secured credit facility in May and a $926 million loan for Nvidia GB300 GPU deployments. The borrowing spree highlights how expensive AI infrastructure has become as companies worldwide rack up hundreds of billions of dollars in AI-related debt.

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