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Neocloud Lambda secures $1 billion in private debt to acquire Nvidia AI chips for lease to Microsoft
The AI cloud company, which buys and rents out computing chips, raised the short-dated debt in a deal arranged by JPMorgan Chase. This latest financing follows a $1 billion secured credit facility in May and a $926 million loan this week to fund Nvidia GB300 GPUs for Nvidia itself. The move underscores the high cost of the AI boom, with over $400 billion in AI-related debt raised globally in 2026 so far.
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