Lambda Cloud Aims for $4 Billion Raise Before Planned IPO

Lambda, a cloud-computing firm backed by Nvidia, is in the process of raising up to $4 billion in its final funding round before a planned initial public offering (IPO). According to a report by the Wall Street Journal, the company is targeting a pre-money valuation of $14.5 billion. The round is being led by investment firms Blackstone and Coatue Management.

Lambda is aiming to go public in 2027, although the exact timing will depend on execution and market conditions. This was revealed in a letter to the company’s limited partners, which was reviewed by the Journal. The letter also highlighted that Lambda’s backlog of unfilled orders has surged to $50 billion in September, up from $15 billion in June.

The company has not yet responded to a request for comment from Reuters.