AI cloud company Lambda has closed a $1 billion syndicated senior secured credit facility.

This is an upsizing of an existing credit facility that was established at $275m in August 2025.

“We're proactively raising the capital required to meet the unprecedented demand we’re seeing for Lambda’s AI native infrastructure from the world’s most sophisticated Superintelligence customers," said Charles Fisher, CFO of Lambda.

A multi-tranche facility, Lambda will use the funding to deploy the latest generation of Nvidia's AI hardware and expand its data center capacity.

JP Morgan acted as the lead arranger for the facility, which was oversubscribed.

“We’re excited to support Lambda as it accelerates expansion and delivers the infrastructure needed for the next generation of AI innovation,” added Jen Perry, co-head of Technology Banking for JP Morgan’s Innovation Economy business. “This financing demonstrates the strong confidence in Lambda’s ability to execute at scale.”

Davis Polk & Wardwell LLP served as legal counsel to Lambda, and Willkie Farr & Gallagher LLP served as legal counsel to the lenders in connection with the transaction.

The closing of the facility comes shortly after Lambda announced a series of senior leadership changes.

The company has hired Michel Combes as its new CEO, while co-founder and former CEO Stephen Balaban is stepping into the role of CTO, and former CEO of AT&T Communications has joined as chairman of the board.

Founded in 2012, the company said this was part of its planned leadership build following its $1.5bn Series E funding round in November 2025, as it hopes to further its expansion. The company is targeting 3GW of compute capacity by 2030.