BlockBeats News, August 29th - AI cloud computing service provider Lambda, in which NVIDIA has invested, has raised approximately $1 billion in private placement short-term debt to purchase mining chips to support its collaboration with Microsoft.

According to sources familiar with the matter who chose to remain anonymous, the transaction was arranged by JPMorgan, with the debt being offered to private placement investors. The sources added that this debt will be used to purchase NVIDIA GPU chips, which will later be leased to Microsoft.