people · May 17, 2026
Lambda secures $1bn credit facility
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Lambda closed a $1 billion syndicated senior secured credit facility on May 8, 2026. The facility upsized an existing $275 million credit line established in August 2025 and was arranged by J.P. Morgan with participation from Citi, MUFG, and Crédit Agricole. Lambda hired Michel Combes as new CEO while co-founder Stephen Balaban moved to CTO and former AT&T Communications CEO joined as board chairman. Lambda Labs secured the $1 billion credit facility to expand gigawatt-scale AI infrastructure and data centers.
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