Lambda Raises $320M At Over $1.5 Billion Valuation

Lambda, a San Jose, CA-based GPU cloud company, raised $320M in Series C, at over $1.5 Billion valuation. The round was led by Thomas Tull’s US Innovative Technology with participation from new investors B Capital, SK Telecom, funds and accounts advised by T. Rowe Price Associates, Inc., and existing investors Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, among others. The product portfolio spans from on-prem GPU hardware to hosted GPUs in the cloud. An early provider of NVIDIA H100 Tensor Core GPUs, it is chosen by AI developers for its access to architectures for training, tuning and inferencing of generative AI, large language models and foundation models. Its hardware and private cloud business serves over 5,000 customers across manufacturing, healthcare, pharmaceuticals, financial services, and the U.S. government.