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Neocloud Lambda secures $1B in debt to buy more chips
Lambda, an AI cloud company that buys computing chips and rents them out to businesses, has raised $1 billion in private, short-dated debt to buy Nvidia’s AI chips that it will lease to Microsoft, Bloomberg reports .
AI Summary
Neocloud Lambda secured $1 billion in private debt to purchase Nvidia AI chips. The company plans to lease the chips to Microsoft. This financing follows a series of loans that highlight the high cost of the AI boom.
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