Lambda, an AI cloud company that buys computing chips and rents them out to businesses, has raised $1 billion in private, short-dated debt to buy Nvidia’s AI chips that it will lease to Microsoft, Bloomberg reports. 

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A trip to Europe often means adjusting to a lot of walking, but don’t let it fool you: cars are still the default for urban mobility. However, entrepreneurs are seeking to challenge this status quo — and the first step is understanding why it is so ingrained.