Let me first recall the definition and some properties of the exponential function. The exponential function in basis $a$ is defined as follows:
$ \exp_a(x) = a^x$. If $a>1$, such a function grows faster than any polynomial $p(x)$.
More formally, this property is interpreted in the two following ways.
1) For any polynomial $p$ and any basis $a>1$, there exists $N$ such that for all $n\geq N, \exp_a(n) > p(n)$.
2) For any polynomial $p$ and any basis $a>1$, $\lim_\limits{x \rightarrow \infty} \frac{\exp_a(x)}{p(x)} = \infty $ (and so $\lim_\limits{x \rightarrow \infty} \frac{p(x)}{\exp_a(x)} = 0 $)
Now, we remark that the function $h(\lambda) = 2^{\lambda/2}$ is an exponential function, because $h(\lambda) = 2^{\lambda/2}=\left(2^{1/2}\right)^\lambda= \sqrt{2}^\lambda =\exp_{\sqrt{2}}(\lambda)$. Finally, your function is $f(\lambda) = \frac{1}{\exp_{\sqrt{2}}(\lambda)}$. In the following, we will prove that $f$ is negligible using the two definitions.
1) $\sqrt{2} >1$, so for any polynomial $p$, there exists $N$ such that for all $n\geq N, \exp_\sqrt{2}(n) > p(n)$, which implies that for all $n\geq N, \frac{1}{\exp_\sqrt{2}(n)} < \frac{1}{p(n)}$. Since $f(\lambda) = \frac{1}{\exp_{\sqrt{2}}(\lambda)}$, we deduce that for all $n\geq N, f(n) < \frac{1}{p(n)}$.
2) $\sqrt{2} >1$, so for any polynomial $p$, $\lim_\limits{\lambda \rightarrow \infty} \frac{p(\lambda)}{\exp_\sqrt{2}(\lambda)} = 0 $. Since $\frac{p(\lambda)}{\exp_\sqrt{2}(\lambda)} = p(x) \frac{1}{\exp_\sqrt{2}(\lambda)} = p(\lambda) f(\lambda)$, we deduce that $\lim_\limits{\lambda \rightarrow \infty} p(\lambda) f(\lambda) = 0 $
To conclude, the intuition is that a polynomial divide by something that grows faster than any polynomial is a negligible function, because it becomes very small very quickly.