AI data center provider Lambda announced Tuesday it raised $1.5 billion in a round led by TWG Global, a relatively new $40 billion investment firm formed by billionaires Thomas Tull, the former owner of Legendary Entertainment, and Guggenheim Partners founder and CEO Mark Walter.

TWG holds a variety of the billionaires’ assets, including Walter’s stakes in the Los Angeles Lakers and the new Cadillac F1 racing team. The firm also has a $15 billion fund to invest in AI anchored by Abu Dhabi’s Mubadala Capital. TWG previously invested in a partnership with Elon Musk’s xAI and Palantir to sell AI agents to enterprises.

Now it’s backing Lambda, which operates a number of U.S. AI data centers. Lambda is a CoreWeave competitor, although it also sells its so-called “AI factories” to hypersc

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