Lambda Raises $1 Billion in Debt to Buy Nvidia Chips for Microsoft Lease

AI neocloud provider Lambda has raised $1 billion in short-dated private debt, arranged by JP Morgan Chase, to purchase Nvidia AI chips that it will lease to Microsoft, according to Bloomberg. The deal is Lambda's third GPU-backed financing in 2026, following a $1 billion secured credit facility in May and a $926 million loan for Nvidia GB300 GPUs under contract with Nvidia itself, bringing its 2026 GPU-backed debt raises above $2.9 billion. The company is also reported to be in talks for a $3 billion pre-IPO round. Banks and tech companies have raised more than $400 billion in AI-related debt globally so far in 2026, underscoring how AI infrastructure is increasingly financed against contracted demand.