We advised Lambda on the transaction

Davis Polk advised Lambda, Inc. in connection with an amendment to its existing first-lien credit facility that, among other things, provided for a $100 million incremental first-lien term facility, an additional $300 million delayed-draw first lien term loan facility and an increase of $327.5 million to its revolving facility, bringing the total aggregate commitments to $1 billion. The proceeds will be used to finance the acquisition of GPU assets, other working capital and general corporate purposes.

Lambda, the Superintelligence Cloud, builds gigawatt-scale AI factories for training and inference. Founded in 2012 by published AI engineers, Lambda’s mission is to make compute as ubiquitous as electricity and give every person access to artificial intelligence.

The Davis Polk finance team included partners Nikolaus Caro and David J. Penna, counsel Kailash Gupta and associates Jack Hobbie and Benjamin Titlebaum. The real estate team included partner Brian D. Hirsch, counsel J. Avelina Burbridge and associates Rachel M. Feldstein and David Beizer. The tax team included counsel Yixuan Long and associate Valentin Van de Walle. Members of the Davis Polk team are based in the New York and Washington DC offices.

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