(1) See
AWS Lambda.
(2) The Greek letter "L," which is used as a symbol for "wavelength." A lambda is a particular frequency of light, and the term is widely used in optical networking. Sending "multiple lambdas" down a fiber is the same as sending "multiple frequencies" or "multiple colors." See
WDM and
wavelength.
Lambda
The symbol above the word "wavelength" in this diagram is the Greek Lambda.