Lambda Closes a $926 Million Term Loan B Secured by GPUs

GPU cloud provider Lambda announced on August 27, 2026 the closing of a $926 million senior secured term loan B facility¹.

• The facility funds the purchase and deployment of GPU infrastructure supporting a committed customer deployment with an investment-grade offtaker. It was first priced on August 12¹
• Moody’s assigned it a Baa2 rating; it was priced at SOFR + 3.00% and issued at 99.5% of the principal amount, maturing on December 31, 2030¹
• It is secured by the GPU servers and related infrastructure it funds along with the cash flows those assets generate, on a fully amortizing schedule aligned with the contracted cash flows and the useful life of the underlying GPU infrastructure¹

Lambda frames it as its second major debt financing this year, following the $1 billion senior secured credit facility announced in May, and says it expects asset-backed financing to remain a source of funding for new GPU capacity alongside its equity base¹. CEO Michel Combes said an investment-grade rating on a term loan B “signals that AI infrastructure has arrived as an investable asset class” — an example of financing backed by GPUs themselves taking hold in the AI infrastructure industry¹. The customer is not named.

Sources

1. Lambda closes $926 million senior secured term loan B facility, backing GPU deployment for an investment-grade customer - Lambda official press release (August 27, 2026)