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Business · Updated 7 Oct, 01:30 am IST

Nvidia-backed Lambda seeks up to $4B raise before planned 2027 IPO

Image: ET Tech

Why it matters for readers: It explains why companies that offer GPU capacity are raising a lot of money and taking on debt to meet demand.

  • Lambda is seeking up to $4 billion at a $14.5 billion pre-money valuation ahead of a planned 2027 IPO.12
  • Investment firms Blackstone and Coatue Management are reported to be leading the funding round.12
  • Lambda’s backlog reportedly rose from $15 billion in June to $50 billion in September, largely because of a $35 billion commitment from Anthropic.12
  • The company recently raised an additional $1 billion of debt and is raising equity now to bolster capital before an IPO.2
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How this story developed

  1. 7 Oct, 12:45 am · ET Tech

    Nvidia-backed Lambda targets $4 billion raise ahead of planned IPO: WSJ

  2. 7 Oct, 01:30 am · TechCrunch AI

    AI computing startup Lambda to raise $4B ahead of planned IPO