Global law firm Greenberg Traurig, LLP represented artificial-intelligence (AI) infrastructure company Lambda in securing a special purpose graphics processing units (GPU) financing vehicle of up to $500 million. The financing, led by Macquarie Group with participation from Industrial Development Funding, will fund the company’s expansion of its on-demand cloud offering.

The financing represents a significant milestone within the AI market and allows Lambda to fund on-demand cloud deployments for thousands of users without the need for them to sign a long-term contract, according to the company’s press release. 

Based in San Jose, California, Lambda provides GPUs, workstations, servers and cloud services that help power AI applications. The company enables AI engineers to easily, securely, and affordably build, test, and deploy AI products at scale.

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