# Lambda Data Centers, Capex and GPU Pricing Source: https://savrn.com/ai-index/companies/lambda Markdown alternate of the page above; the site index is https://savrn.com/llms.txt --- [SAVRN Index.](https://savrn.com/ai-index) Explore the IndexCompanies Lambda has layered a $320 million Series C, a $500 million GPU-backed SPV facility led by Macquarie, a $480 million Series D, a Series E of more than $1.5 billion, and debt facilities including a $926 million term loan B, a $1 billion syndicated facility and a $275 million facility, with a $350 million pre-IPO round reportedly in talks ahead of a targeted H2 2026 IPO. Its anchor relationships include a multibillion-dollar Microsoft agreement covering GB300 NVL72 systems and a reported $1.5 billion Nvidia lease-back. Flagship US expansion is a Kansas City, Missouri deployment starting at 24MW and scaling above 100MW against a company-wide 3GW liquid-cooled ambition. On 31 August 2026 Bloomberg and The Wall Street Journal reported that Lambda had signed a $35 billion cloud agreement with Anthropic, with the capacity to run through Hut 8's Beacon Point campus in Nueces County, Texas on a lease held by Nvidia. The reports did not disclose the agreement's term, GPU count, payment schedule or computing capacity. Updated October 8, 2026Capital record from the Capital Atlas Named sites 2 Site commitments on record for Lambda Disclosed site capital n.a. Named sites with a stated dollar figure. A floor, not a capex total Disclosed capacity 24 MW Named sites with a stated megawatt figure Financing transactions 15 Transactions naming Lambda or one of its sites Prices tracked 11 11 confirmed on the provider's feed or page at the last check Sources 21 Every cited page, listed below Market Lambda is privately held, so there is no public market data to show. Spending ## Reported and guided spending Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent, and guidance is what management expects. They sit side by side and are never combined. | Period | Kind | Amount | As stated | Sources | | --- | --- | --- | --- | --- | | H2 2026 (reported) | raise | ~$350M | $350 million pre-IPO round reportedly in talks with Mubadala Capital to lead; IPO reportedly targeted for H2 2026 with Morgan Stanley, J.P. Morgan and Citi engaged | | Named sites ## Where Lambda builds | Site | State | Place | Capital | MW | Status | Sources | | --- | --- | --- | --- | --- | --- | --- | | Kansas City deploymenthosting from early 2026 | [Missouri](https://savrn.com/data-center-capital-atlas/missouri) | Kansas City | n.a. | 24 | announced | | | Lambda data center, MidAmerica Industrial Park (south section)with MidAmerica Industrial Park, Grand River Dam Authority (power), Cloverleaf Infrastructure (site readiness) | [Oklahoma](https://savrn.com/data-center-capital-atlas/oklahoma) | Chouteau, Mayes County | n.a. | n.a. | announced | | Financing ## Financing transactions Transactions that name Lambda as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed. | Parties | Instrument | Amount | Date | Site | Sources | | --- | --- | --- | --- | --- | --- | | Anthropic + Lambda + Nvidia + Hut 8Anthropic agreed a reported $35 billion cloud computing agreement with Lambda, a San Jose based cloud provider in which Nvidia is an investor. The capacity is reported to run through Hut 8's Beacon Point campus in Nueces County, Texas, a facility of six data halls totaling 352 MW of critical IT capacity, with Nvidia holding the underlying lease and Lambda installing Nvidia systems. Neither Anthropic nor Lambda has published the contract terms, and Hut 8's project bond disclosure names the tenant only as rated AA- or higher. Press coverage places Anthropic's cumulative cloud commitments announced in recent months at approximately $175 billion. | other | ~$35.0B | Reported 31 August 2026 by The Wall Street Journal and Bloomberg; widely reported 1 September 2026 | Beacon Point data center (TX) | | | Lambda + TWG Global + USITSeries E led by TWG Global and USIT to build superintelligence cloud infrastructure. | equity raise | ≥$1.5B | November 18, 2025 | n.a. | | | Nvidia + LambdaA $1.5 billion lease-back from Nvidia to Lambda, reported September 2025. Terms beyond the reported figure are not disclosed in the fetched sources. | lease | ~$1.5B | Reported September 2025 | n.a. | | | Lambda + JPMorgan Chase & Co. + Microsoft + NvidiaBloomberg reported that Lambda raised about $1 billion of private short-dated debt, marketed to private placement investors, to buy Nvidia GPUs that will be leased by Microsoft under Lambda's 2025 agreement with Microsoft. JPMorgan declined to comment and Lambda, Nvidia and Microsoft did not respond. The deal followed Lambda's $926 million term loan that closed in August 2026. On 1 October 2026 Lambda announced the closing of a $1 billion investment-grade delayed draw term loan marketed to insurance companies and fixed income investors, its first US fixed rate financing. The facility was oversubscribed, is rated A (low) by Morningstar DBRS and Baa1 by Moody's, and carries a 6.78% fixed interest rate per the release. Proceeds fund the purchase and development of GPU infrastructure for three committed customer deployments with two investment-grade offtakers across multiple data centers; the release does not name the offtakers. J.P. Morgan acted as sole coordinating lead arranger, structuring agent and bookrunner. | private placement debt (short-dated) | $1.0B | Reported by Bloomberg 28 August 2026; closing announced by Lambda 1 October 2026 | n.a. | | | LambdaSyndicated facility recorded on the same page as the GPU-backed facility announcement. | debt facility | $1.0B | recorded on April 2024 Business Wire page | n.a. | | | LambdaLambda closed a $926 million senior secured term loan B, led by Morgan Stanley as lead left arranger and bookrunner with MUFG as joint bookrunner. The facility is rated Baa2 by Moody's, priced at SOFR plus 3.00% and issued at 99.5% of principal, and fully amortizes to a 31 December 2030 maturity. Proceeds fund the purchase and deployment of GPU infrastructure for a committed customer deployment with an investment-grade offtaker; Lambda does not name the GPU model or the customer. Lambda describes the facility as its first large-scale private cloud GPU asset-backed SPV financing and as the first broadly syndicated, investment-grade-rated term loan B completed by a private neocloud. Correction applied 10 September 2026: this record previously carried the date note 'recorded on April 2024 Business Wire page' with no terms. The issuer's own announcement dates the $926 million term loan B to 27 August 2026, and the terms are taken from that announcement. | debt facility | $926M | Closed 27 August 2026 | n.a. | | | Nvidia + CoreWeave + Nebius + Nscale + Lambda + CrusoeNvidia backstops $860M of partner data center lease obligations, with $470M escrowed, across CoreWeave, Nebius, Nscale, Lambda and Crusoe. | guarantee | $860M | Date n.a. in this part | n.a. | | | Nvidia + Supermicro + LambdaA $600M Supermicro 21MW Prime sublease was routed to Lambda as part of Nvidia's Lambda-related commitments. | lease | $600M | Date n.a. in this part | n.a. | | | Lambda + Macquarie Group + Industrial Development FundingGPU-backed special purpose financing to expand Lambda's cloud for AI. | debt facility | $500M | announced April 2, 2024 | n.a. | | | Lambda + Andra Capital + SGW + Nvidia + ARK Invest + In-Q-Tel + SupermicroSeries D co-led by Andra Capital and SGW, with Nvidia, ARK Invest, In-Q-Tel and Supermicro participating. | equity raise | $480M | February 2025 per DCD | n.a. | | | Lambda + Mubadala CapitalLambda reportedly targets an IPO in H2 2026, slightly later than a previously reported H1 target, with Morgan Stanley, J.P. Morgan and Citi engaged. Bloomberg reported on 25 August 2026 that Lambda was in talks to raise as much as $3 billion at a valuation of as much as $12 billion or more, had received multiple term sheets, and could go public as soon as 2027; terms were not finalized. Reported by Bloomberg. The Wall Street Journal reported on Tuesday 6 October 2026, citing unnamed sources, that Lambda is raising as much as $4 billion in a final round before its planned IPO, at a valuation of $14.5 billion excluding the new money. Reported, not closed; amount field unchanged. | equity raise | ~$350M | reported; IPO targeted H2 2026 | n.a. | | | LambdaRecorded on the same Business Wire page as the GPU-backed facility. | equity raise | $320M | February 2024 | n.a. | | | LambdaFacility recorded on the same page as the GPU-backed facility announcement. | debt facility | $275M | August 2025 | n.a. | | | Lambda + MicrosoftAgreement covering GB300 NVL72 systems and tens of thousands of Nvidia GPUs. | other | n.a. | November 3, 2025 | n.a. | | | Nvidia + LambdaNvidia participated in Lambda's Series D round. The source does not state Nvidia's dollar commitment. | equity raise | n.a. | Date n.a. in this part | n.a. | | The record ## Sourced facts on Lambda - The atlas corrects the brief's '$400M Series C (Aug 2025)': the confirmed Series C is $320 million in February 2024, and the August 2025 event is a $275 million facility. - Lambda targets a company-wide 3GW liquid-cooled buildout, with named locations including San Francisco, Allen TX, Columbus OH, Chicago, Atlanta (EdgeConneX), Plano TX (Aligned) and Vernon CA. - Nvidia arranged a $600 million Supermicro 21MW Prime sublease routed to Lambda. Against the market ## How Lambda prices compare Lambda's lowest price for each GPU beside the lowest price every other tracked provider lists for the same GPU, sold the same way. Typical is the middle provider, one price each. ### NVIDIA H100On demand [All NVIDIA H100 prices →](https://savrn.com/ai-index/pricing/gpus/h100) Lambda$3.29per GPU-hour, on-demand Rank9 of 2123% below typical Typical$4.25middle of 21 providers Lowest anywhere$1.99Voltage Park Voltage Park1. H100 (single GPU, no contract) $1.99 GMI Cloud2. NVIDIA H100 $2.00 Vultr3. NVIDIA HGX H100 — Cloud GPU $2.30 Denvr Dataworks4. NVIDIA H100 SXM (8 GPUs, 208 vCPU) $2.45 Cirrascale5. 8X NVIDIA H100 (16-Node+ Clustered) $2.49 Massed Compute6. H100 (80 GB) ×1/×2/×4 $2.73 Runpod7. H100 PCIe / H100 NVL — Pods $2.89 Hyperbolic8. H100 SXM $3.19 Lambda9. NVIDIA H100 PCIe $3.29 Together AI10. H100 (80 GB), 8–256 GPUs $3.99 LambdaTypical $4.2511 more providers on the [NVIDIA H100 page](https://savrn.com/ai-index/pricing/gpus/h100) ### NVIDIA H100Reserved [All NVIDIA H100 prices →](https://savrn.com/ai-index/pricing/gpus/h100) Lambda$5.54per GPU-hour, short-term reserved cluster Rank9 of 962% above typical Typical$3.42middle of 9 providers Lowest anywhere$2.30Vultr Vultr1. NVIDIA HGX H100 — Bare Metal (8 × H100 80 GB SXM) $2.30 Impossible Cloud2. H100 8-GPU nodes (EU, offer 301-H100) $2.63 Together AI3. reserved $3.19 DigitalOcean4. 12-month reserved $3.26 Cirrascale5. 8X NVIDIA H100 (Standalone) $3.42 Astra Intellectus6. H100 SXM 8-GPU $3.65 Microsoft Azure7. Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_) $4.86 Google Cloud8. 3-year committed use $4.86 Lambda9. 1-Click Clusters — NVIDIA H100 $5.54 LambdaTypical $3.42 ### NVIDIA B200On demand [All NVIDIA B200 prices →](https://savrn.com/ai-index/pricing/gpus/b200) Lambda$6.69per GPU-hour, on-demand Rank6 of 1617% below typical Typical$8.08middle of 16 providers Lowest anywhere$3.50Vultr Vultr1. NVIDIA HGX B200 — Cloud GPU $3.50 GMI Cloud2. NVIDIA B200 $4.00 Massed Compute3. B200 SXM6 ×8 $5.43 Hyperbolic4. B200 $5.99 Cirrascale5. 8X B200 $5.99 Lambda6. NVIDIA B200 SXM6 $6.69 Runpod7. B200 (180 GB, 28 vCPU) — Pods $7.99 Google Cloud8. a4-highgpu-8g (A4) $8.06 Verda9. Instant clusters, B200 SXM6 180GB $8.11 Together AI10. HGX B200 (180 GB) $8.19 LambdaTypical $8.086 more providers on the [NVIDIA B200 page](https://savrn.com/ai-index/pricing/gpus/b200) ### NVIDIA B200Reserved [All NVIDIA B200 prices →](https://savrn.com/ai-index/pricing/gpus/b200) Lambda$8.87per GPU-hour, short-term reserved cluster Rank6 of 653% above typical Typical$5.79middle of 6 providers Lowest anywhere$3.50Vultr Vultr1. NVIDIA HGX B200 — Bare Metal (8 × B200 192 GB) $3.50 TheAI Cloud2. 24-month reserved $4.50 Cirrascale3. 8X NVIDIA B200 $4.79 Together AI4. reserved $6.79 Google Cloud5. 3-year committed use $7.09 Lambda6. 1-Click Clusters — NVIDIA HGX B200 $8.87 LambdaTypical $5.79 ### NVIDIA GH200On demand Lambda$2.29per GPU-hour, on-demand Rank1 of 341% below typical Typical$3.87middle of 3 providers Lowest anywhere$2.29Lambda Lambda1. NVIDIA GH200 $2.29 Denvr Dataworks2. GH200 $3.87 CoreWeave3. NVIDIA GH200 $6.50 LambdaTypical $3.87 Tracked prices ## Lambda prices Every price the Index tracks for Lambda, in the provider's own words beside a normalized figure, with the date it was last checked. [What AI Costs](https://savrn.com/ai-index/pricing) compares them across the market. | GPU | Offer | Terms | Published price | Per GPU-hour | Change | Checked | Source | | --- | --- | --- | --- | --- | --- | --- | --- | | [NVIDIA H100](https://savrn.com/ai-index/pricing/gpus/h100) | NVIDIA H100 PCIe | on-demandList | $3.29 per GPU-hour, 1x instance (26 vCPUs), on-demand | $3.29 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA H100](https://savrn.com/ai-index/pricing/gpus/h100) | NVIDIA H100 SXM (on-demand instance, 8-GPU config, 208 vCPU/1800 GiB) | on-demandList | $3.99 per GPU-hour, 8x instance (208 vCPUs), on-demand | $3.99 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA H100](https://savrn.com/ai-index/pricing/gpus/h100) | NVIDIA H100 SXM (smaller configs) | on-demandList | $4.09 per GPU-hour, 4x instance (104 vCPUs), on-demand | $4.09 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA H100](https://savrn.com/ai-index/pricing/gpus/h100) | 1-Click Clusters, NVIDIA H100 | short-term reserved clusterCommitted | $5.54 per GPU-hour for 256 GPUs, 2 weeks – 1 year, 1-Click Clusters | $5.54 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA H200](https://savrn.com/ai-index/pricing/gpus/h200) | 1-Click Clusters, H200 | not publishedNot published | n.a. | Not published | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA B200](https://savrn.com/ai-index/pricing/gpus/b200) | NVIDIA B200 SXM6 | on-demandList | $6.69 per GPU-hour, 8x instance (208 vCPUs), on-demand | $6.69 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA B200](https://savrn.com/ai-index/pricing/gpus/b200) | 1-Click Clusters, NVIDIA HGX B200 | short-term reserved clusterCommitted | $8.87 per GPU-hour for 256+ GPUs, 2 weeks – 1 year, 1-Click Clusters | $8.87 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA GB200 NVL72](https://savrn.com/ai-index/pricing/gpus/gb200) | 1-Click Clusters, GB200 | not publishedNot published | n.a. | Not published | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA B300](https://savrn.com/ai-index/pricing/gpus/b300) | 1-Click Clusters, B300 | not publishedNot published | n.a. | Not published | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | [NVIDIA GB300 NVL72](https://savrn.com/ai-index/pricing/gpus/gb300) | 1-Click Clusters, GB300 | not publishedNot published | n.a. | Not published | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | | NVIDIA GH200 | NVIDIA GH200 | on-demandList | $2.29 per GPU-hour, 1x instance (64 vCPUs), on-demand | $2.29 | No change | On pageOct 23, 2026 | [lambda.ai ↗](https://lambda.ai/pricing) | Sources ## Sources for Lambda Every source cited on this page, once each. - datacenterdynamics.com[DCD](https://www.datacenterdynamics.com/en/news/ai-cloud-firm-lambda-targets-data-center-deployment-in-kansas-city-missouri/) - lambda.ai[Lambda (company announcement), 27 September 2026](https://lambda.ai/blog/new-lambda-data-center-in-oklahoma) - msn.com[KOKH Fox 25 (via MSN), 27 September 2026](https://www.msn.com/en-us/money/general/ai-cloud-company-plans-data-center-in-mayes-county/ar-AA2d4RU5) - newson6.com[News On 6, 28 September 2026](https://www.newson6.com/data-centers-in-oklahoma/what-to-know-about-the-lambda-mayes-county-data-center) - tulsaworld.com[Tulsa World, 28 September 2026](https://tulsaworld.com/news/state-regional/business/article_5cf94bc8-5ed8-4504-9da3-01f489961cdc.html) - bloomberg.com[Bloomberg](https://www.bloomberg.com/news/articles/2026-08-31/anthropic-seals-35-billion-cloud-deal-with-nvidia-backed-lambda) - finance.yahoo.com[Reuters via Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/anthropic-signs-35-billion-cloud-111829800.html) - finance.yahoo.com[WSJ report via Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/anthropic-signs-35-billion-lambda-144113886.html) - techxplore.com[TechXplore](https://techxplore.com/news/2026-09-anthropic-35b-startup-nvidia.html) - lambda.ai[Lambda](https://lambda.ai/blog/lambda-raises-over-1.5b-from-twg-global-usit-to-build-superintelligence-cloud-infrastructure) - datacenterdynamics.com[DCD](https://www.datacenterdynamics.com/en/news/lambda-in-talks-to-raise-350m-in-pre-ipo-funding-report/) - lambda.ai[Lambda](https://lambda.ai/blog/lambda-raises-480m-to-expand-ai-cloud-platform) - datacenterdynamics.com[DCD](https://www.datacenterdynamics.com/en/news/nvidia-backs-860m-lease-obligations-of-partner-data-center/) - finance.yahoo.com[Bloomberg via Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/nvidia-backed-lambda-inks-1-163700160.html) - finance.yahoo.com[Lambda release via Business Wire (Yahoo Finance), 1 October 2026](https://finance.yahoo.com/technology/ai/articles/lambda-closes-1-billion-senior-221700154.html) - businesswire.com[Business Wire / Lambda](https://www.businesswire.com/news/home/20240402148086/en/Lambda-Announces-$500M-GPU-Backed-Facility-to-Expand-Cloud-for-AI) - lambda.ai[Lambda](https://lambda.ai/blog/lambda-closes-926-million-senior-secured-term-loan-b-facility) - finance.yahoo.com[Bloomberg via Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/ai-cloud-provider-lambda-in-talks-for-3-billion-pre-ipo-round-234205946.html) - pymnts.com[PYMNTS citing The Wall Street Journal, 6 October 2026](https://www.pymnts.com/news/investment-tracker/2026/lambda-targets-14-5-billion-valuation-in-final-pre-ipo-round/) - lambda.ai[Lambda](https://lambda.ai/blog/lambda-announces-multibillion-dollar-agreement-with-microsoft-to-deploy-ai-infrastructure-powered-by-tens-of-thousands-of-nvidia-gpus) - lambda.ai[lambda.ai](https://lambda.ai/pricing) NeoCloud ## More in the Index [Applied Digital](https://savrn.com/ai-index/companies/applied-digital)[Bitdeer Technologies Group](https://savrn.com/ai-index/companies/bitdeer)[Cerebras Systems](https://savrn.com/ai-index/companies/cerebras)[Cipher Digital Inc.](https://savrn.com/ai-index/companies/cipher-digital)[Core Scientific](https://savrn.com/ai-index/companies/core-scientific)[CoreWeave](https://savrn.com/ai-index/companies/coreweave)[Corvex, Inc.](https://savrn.com/ai-index/companies/corvex)[Crusoe Energy](https://savrn.com/ai-index/companies/crusoe-energy)[Fluidstack](https://savrn.com/ai-index/companies/fluidstack)[Galaxy Digital Inc.](https://savrn.com/ai-index/companies/galaxy-digital)[Groq](https://savrn.com/ai-index/companies/groq)[Hut 8 Corp.](https://savrn.com/ai-index/companies/hut8)[IREN](https://savrn.com/ai-index/companies/iren)[Nebius Group](https://savrn.com/ai-index/companies/nebius-group)[Nscale](https://savrn.com/ai-index/companies/nscale)[Poolside](https://savrn.com/ai-index/companies/poolside)[SambaNova Systems](https://savrn.com/ai-index/companies/sambanova)[Sesterce](https://savrn.com/ai-index/companies/sesterce)[TeraWulf](https://savrn.com/ai-index/companies/terawulf)[Together AI](https://savrn.com/ai-index/companies/together-ai)[Voltage Park](https://savrn.com/ai-index/companies/voltage-park)[Vultr](https://savrn.com/ai-index/companies/vultr) Capital figures come from the [Capital Atlas](https://savrn.com/data-center-capital-atlas), refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so each figure appears as its source states it and none are added into a single deployment number. Informational, not investment advice. Sources The SAVRN reference set ## Seven references, one system Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it. Capital Atlas Who is funding AI data centers: capital providers, named sites, financing transactions, and the blocked-and-delayed record, state by state and company by company. [Open the atlas →](https://savrn.com/data-center-capital-atlas) Delay Watchlist Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue. Open the watchlist → Moratorium Tracker The policy layer: every state measure and local moratorium mapped and cited, with one page per state. Open the tracker → Water Tracker Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger. Open the water tracker → Grid Operator Watchlist ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize. Open the watchlist → Permits and Power Development Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records. Open the permits tracker → SAVRN Scarcity Tracker Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling. Open the scarcity tracker → Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding. [Check an address →](https://savrn.com/site-intelligence)