TECH NEWS

Lambda is borrowing $917m to buy chips from the company that invests in it

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Lambda is selling a $917 million leveraged loan to finance a chip purchase, Bloomberg reported on Monday. Jeannine Amodeo, Paula Seligson and Gowri Gurumurthy broke the story. The money pays for GPUs and other infrastructure as part of a contract with Nvidia, according to a person with knowledge of the matter. Morgan Stanley leads the transaction.

Lambda Compute II LLC and Lambda Cloud Canada Inc will issue the debt. A lender call opened at 10:30am New York time on Monday. Commitments fall due on Thursday. Order books had reached nearly $2 billion after a pre-marketing effort.

Bloomberg frames the risky debt market as a new front in the borrowing binge funding the AI buildout. Its own compiled data puts global AI-linked borrowing at nearly $600 billion since last year. Lambda belongs to the group of firms known as neoclouds, which rent out access to microchips and other AI infrastructure.

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'No old code exists': Tomb Raider: Legacy of Atlantis experience director confirms the 'reimagining' had to be built totally from the ground up on Unreal Engine 5 — but this meant Crystal Dynamics could add more tech upgrades

* Tomb Raider: Legacy of Atlantis experience director Jeff Adams confirms "no old code exists" for the original 1996 game * This meant Crystal Dynamics had to build the game from the ground up on Unreal Engine 5 * Adams says the engine also allowed the studio to create its own