• First private neocloud to execute an investment-grade-rated financing in the term loan B market, further broadening the investor base for AI infrastructure financing.
• Facility supports the purchase and deployment of GPU infrastructure dedicated to an investment-grade offtaker.
• Heavily oversubscribed transaction with significant investor demand, with pricing tightening by 75 basis points during syndication to SOFR + 3.00% issued at 99.5% of the principal amount.
• Rating of Baa2 from Moody’s validates the continued institutional maturation of AI infrastructure financing as an asset class.

SAN FRANCISCO: Lambda, Inc. (“Lambda”), the Superintelligence Cloud, today announced it has priced a $926 million senior secured term loan B facility (the “Facility”) to support the continued expansion of its GPU cloud platform and committed customer deployments.

The Facility will mark the first investment-grade-rated term loan B financing executed by a private neocloud, generating significant investor demand and expanding the addressable investor base for AI infrastructure financing. The Facility received a rating of Baa2 from Moody’s.

Lambda intends to use proceeds of the transaction to fund the acquisition and installation of GPU servers and related infrastructure used to deliver compute services dedicated to an investment-grade offtaker. The transaction was meaningfully oversubscribed, attracting significant demand from a broad group of institutional investors. Strong market interest enabled pricing to tighten by 75 basis points from initial discussions, resulting in final pricing at SOFR + 3.00% issued at 99.5% of the principal amount.

The Facility will be Lambda's first large-scale, private cloud GPU asset-backed SPV financing, a structure through which Lambda expects to continue to fund committed customer deployments. The Facility will strengthen Lambda's capital structure as the company continues to scale its AI cloud platform.

Facility Highlights

• $926 million senior secured first lien term loan B, priced at SOFR + 3.00%.
• Maturity of December 31, 2030, with a fully amortizing repayment profile aligned with the contracted cash flows and useful life of the underlying GPU infrastructure.
• To be secured by the GPU servers and related infrastructure funded by the Facility and the contracted cash flows.

“This transaction will establish Lambda as the first private neocloud to access the term loan B market with an investment-grade rating. The significant pricing and investor interest we generated reflect the strength of our customer commitments, the quality of our infrastructure and growing institutional conviction in AI infrastructure as an asset class,” said Michel Combes, Chief Executive Officer of Lambda.

Morgan Stanley is acting as lead left arranger, bookrunner, and administrative agent. MUFG is acting as joint bookrunner. Davis Polk & Wardwell LLP is acting as legal counsel to Lambda. Latham & Watkins LLP is acting as legal counsel to Morgan Stanley and the arrangers.

The Facility is expected to close in August 2026, subject to customary closing conditions.

About Lambda

Lambda, the Superintelligence Cloud, is a leader in AI cloud infrastructure serving tens of thousands of customers. Founded in 2012 by published machine learning engineers, Lambda builds supercomputers for AI training and inference. Our customers range from AI researchers to enterprises and hyperscalers. Lambda's mission is to make compute as ubiquitous as electricity and give everyone the power of superintelligence. One person, one GPU.

Forward-Looking Statements

This press release contains forward-looking statements that relate to future events or performance. These statements reflect Lambda’s current expectations and are not guarantees of future results. Words such as "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "plan," and "will," or similar expressions, are intended to identify forward-looking statements. These are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Actual events or results may differ materially due to known and unknown risks and uncertainties, many of which are beyond Lambda’s control. Lambda undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Fonte: Business Wire