Nvidia-Backed AI Neocloud Lambda Seeks Up to $4 Billion at $14.5 Billion Valuation Before 2027 IPO

Lambda, an Nvidia-backed AI cloud computing firm, is raising up to $4 billion in what is expected to be its final funding round before a planned initial public offering in 2027. The round values the company at $14.5 billion on a pre-money basis.

Founded in 2012 and based in California, Lambda operates as a neocloud, renting access to Nvidia GPUs and other AI infrastructure across data centers in Atlanta, Los Angeles, Chicago, and Austin. The company describes itself as a superintelligence cloud built specifically for AI workloads and operates more than one million Nvidia GPUs. The raise marks an increase from talks reported roughly six weeks earlier, when Lambda was in discussions to raise as much as $3 billion at a valuation of up to $12 billion.