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Latham & Watkins Represents Macquarie in US$500 Million Financing for Lambda

April 9, 2024
Banking team advises on the first-of-its-kind GPU-backed facility for the GPU cloud company to expand cloud for AI.

Lambda, the GPU cloud company founded by AI engineers and powered by NVIDIA GPUs, has announced that it has secured a special purpose GPU financing vehicle of up to US$500 million to fund the expansion of its on-demand cloud offering. The financing was led by Macquarie Group with participation from Industrial Development Funding and follows Lambda’s US$320 million Series C funding round in February 2024.

Latham & Watkins LLP represented Macquarie in the financing with a banking team led by partner Paul Bonewitz and counsel Preeta Paragash, with associate Amishi Magdani. Advice was also provided on technology transactions matters by partner Morgan Brubaker; on tax matters by partner Jiyeon Lee-Lim, with associate Kathryn Harrington; and on corporate matters by associate Matt DeSilva.