Lambda reported pre-IPO funding talks

Nvidia-backed AI cloud provider Lambda is seeking to raise up to $4 billion at a $14.5 billion pre-money valuation, the Wall Street Journal reported on October 6, citing people familiar with the matter. Reuters subsequently summarized the report and said Blackstone and Coatue Management were described as leading the proposed round. The Journal characterized it as a final private round before a planned initial public offering. Reuters said a letter to limited partners reviewed by the Journal pointed to a possible 2027 IPO, subject to execution and market conditions. Lambda did not immediately respond to Reuters’ request for comment. These are reported fundraising plans, not a completed investment, confirmed valuation or filed IPO.