Lambda closes $1.008bn delayed-draw loan for GPU deployments
The senior secured facility releases funding as clusters enter service, supporting three contracted deployments across two customers.
Lambda closed a $1.008 billion senior secured, fixed-rate loan facility on October 1. The facility uses delayed drawdowns tied to cluster commissioning, so the commitment does not represent cash paid out in full at closing.
The financing will fund GPU infrastructure for three committed deployments serving two investment-grade customers. It carries a 6.78% fixed interest rate and a final maturity of May 30, 2033, secured by the funded equipment and contracted cash flows.
J.P. Morgan acted as coordinating lead arranger, structuring agent and bookrunner. Lambda did not name the individual lenders. The facility follows its August term-loan financing and is separate from reports about a prospective equity round.
Use of funds
Purchase and develop GPUs for three committed customer deployments