Lambda closes $1.008 billion loan at 6.78% to fund GPU infrastructure

IPONewsroom reports Lambda closed a $1.008 billion investment-grade delayed-draw term loan at a 6.78% fixed rate, rated Baa1 by Moody’s. The loan will fund GPU infrastructure for three committed deployments backed by contracted cash flows from two hyperscale customers. Citing Lambda, IPONewsroom says this is the company’s first $1 billion-plus institutional debt financing, following a $926 million term loan B in August. Citing The Information, it says the new loan will fund the purchase of more than 30,000 Nvidia GPUs.