WSJ reports Lambda seeking up to $4 billion before planned IPO
The reported round would value the Nvidia-backed AI cloud provider at $14.5 billion before new money, but no closing has been confirmed.
A large round still in progress
AI cloud provider Lambda is seeking up to $4 billion in private funding at a $14.5 billion pre-money valuation, according to an October 6 Wall Street Journal exclusive citing people familiar with the matter. Reuters reported the Journal’s account and said investment firms Blackstone and Coatue Management were described as leading the proposed round. Lambda has Nvidia backing and supplies computing capacity for AI workloads. The potential size of the round illustrates the capital required to expand that infrastructure, but the reported target is not money already raised.
The Journal described the financing as Lambda’s intended final private round before a planned initial public offering. Reuters said a letter to limited partners reviewed by the Journal points to a possible 2027 listing, depending on execution and market conditions. Lambda did not immediately respond to Reuters’ request for comment. The company has not confirmed a closing, final valuation or IPO filing in the reviewed sources. Investors, timing and proceeds could change while talks continue, so the reported terms should be read as plans attributed to the Journal’s sources rather than completed company actions.