Nvidia-backed Lambda seeks $4 billion ahead of planned IPO

Lambda, a cloud-computing firm backed by Nvidia, is in the process of raising up to $4 billion in what will be its final funding round before an anticipated initial public offering (IPO). The Wall Street Journal reported on Tuesday that this pre-IPO round values the company at $14.5 billion, citing sources familiar with the matter.

The funding round is being led by investment firms Blackstone and Coatue Management. According to a letter reviewed by the Journal, Lambda plans to go public in 2027, contingent on execution and market conditions. The company's backlog of unfilled orders has surged to $50 billion in September, up from $15 billion in June, indicating strong demand.

Lambda did not immediately respond to Reuters' request for comment on the report. The details of the funding round and the company's growth metrics highlight its positioning ahead of the planned IPO.