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Greenberg Traurig Represents Lambda in Securing $500M GPU-Backed Facility to Expand Cloud for AI

NEW YORK – April 12, 2024 – 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.

The Greenberg Traurig team that represented Lambda was led by Richard C. Kim, co-chair of the firm’s Global Finance Practice, Washington D.C., Corporate Shareholder Kemal Hawa, Los Angeles Corporate Shareholder Homin Lee, Washington, D.C., Corporate Shareholder Christopher T. Turek, and Miami Corporate Associate Kristy “Kitt” Ritter.

The team also included Chicago Tax Shareholder Jeffrey K. Ekeberg, New York Intellectual Property & Technology Shareholder David M. Greenberg, New York Intellectual Property & Technology Of Counsel Sandy Chiu, and Washington, D.C., Corporate Associate Joshua Pincus.

About Greenberg Traurig’s Corporate Practice: Greenberg Traurig’s Corporate Practice comprises more than 600 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.

About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: