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

Lambda obtained a $1 billion short-term private debt facility to buy Nvidia GB300 GPUs, which it will lease to Microsoft and other customers, with lease revenue earmarked for repayment. This follows a prior $1 billion secured credit line and a $926 million loan for the same GPUs, and occurs amid discussions of a $3 billion pre-IPO round. Bloomberg reports global AI-related debt surpassing $400 billion in 2026.