Bank for International Settlements

Money Moves

Warned that AI debt could disrupt credit markets on the scale of 2008

Lambda, a San Francisco company that buys Nvidia chips and rents computing power to businesses, raised $1 billion in private debt on August 28. JPMorgan arranged the deal; the money buys GPUs that Microsoft has already agreed to lease. It is Lambda's second major debt raise in a month and part of more than $400 billion in AI infrastructure borrowing worldwide in 2026.

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