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Lambda LabsNVIDIA-native GPU cloud for AI training and inference. Founding NVIDIA Cloud Partner, IPO targeted 2H 2026
Valuation (Nov 2025 Series E)
$5.9B
+136% from $2.5B (Series D)
Total Raised
~$3.87B
equity plus asset-backed GPU debt
IPO Timing
Targeted 2H 2026
~$350M pre-IPO round in talks (Mubadala reported lead)
NVIDIA Strategic Position
First DGX SuperPOD cloud
Founding NCP partner; allocation priority across NVIDIA's datacenter SKU range
Total raised: ~$3.87B (equity + debt) · Latest valuation: $5.9B
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Bootstrap / Early | 2012-2017 | Self-funded | - | Stephen Balaban + Michael Balaban (founders) |
| Series A | May 2018 | $24.5M | - | Bloomberg BetaRazerSusa VenturesStreamlined Ventures+1 more |
| Series B | Jun 2021 | $44M | - | 1517 Fund (lead)Bloomberg BetaRazer |
| Series C | Apr 2024 | $320M | $1.5B | US Innovative Technology Fund (lead)B CapitalSK TelecomCrescent Cove |
| Series D | 2025 | $480M | $2.5B | SGW (Singapore, lead)Andra CapitalARK InvestIn-Q-Tel+4 more |
| Series E | Nov 2025 | ~$1.5B | $5.9B | TWG Global (lead)existing investor syndicate |
| Debt Financing | 2024-2025 | $500M+ | - | MacquariePacific Westernasset-backed GPU financing |
| Product | Type | Status |
|---|---|---|
| Lambda Cloud | On-demand GPU rentals (H100, H200, B200, B300) | GA |
| Lambda 1-Click Clusters | Multi-node GPU clusters with NVLink + InfiniBand | GA |
| Lambda Reserved Cloud | Multi-year reserved GPU capacity for training workloads | GA |
| Lambda Inference | Serverless inference endpoint (managed model serving) | GA |
| Lambda Workstations | Pre-built GPU desktop + server hardware | GA (original product line) |
| Lambda Stack | Open-source ML environment + GPU driver bundle | Open-source |
Founding NCP; Series D investor; first GPU cloud to deploy DGX SuperPOD; allocation priority for H100 / H200 / B200 / B300.
Multi-year compute deal reportedly worth $5B+; Lambda is a critical Azure capacity overflow provider.
Led the ~$1.5B Series E (Nov 2025) at a $5.9B valuation.
Series C investor; Korean AI sovereignty + co-deployment plans.
In talks to lead a ~$350M pre-IPO round at a discount to the eventual IPO price.
Asset-backed lending facility for GPU hardware procurement (separate from equity).
Stephen Balaban and Michael Balaban start Lambda; originally a face-recognition consultancy
Lambda becomes pure-play AI compute provider; first Lambda Cloud instances launched
Lambda is one of the first NCP-certified GPU clouds (alongside CoreWeave, Crusoe)
$320M raise; positions Lambda as a leading NVIDIA-pure GPU cloud
Reported $5B+ multi-year compute agreement; Lambda becomes a critical Azure overflow provider
$480M raise with NVIDIA participating; targets large Blackwell GPU buildout
Lambda is the first GPU cloud to deploy and rent NVIDIA DGX SuperPOD systems
~$1.5B led by TWG Global; lifts total funding toward ~$3.87B
Reportedly raising ~$350M pre-IPO (Mubadala Capital in talks to lead at a ~20% discount); IPO targeted for the second half of 2026
GPU cloud and on-prem AI infrastructure provider. Largest dedicated GPU cluster outside the hyperscalers and CoreWeave. Series D in 2025 raised $480M at a $2B+ valuation. Lambda Labs was founded in 2012, is headquartered in San Jose, CA and employs ~400.
Lambda Labs has raised ~$3.87B (equity + debt) in total at a $5.9B valuation, based on the funding rounds Sterling tracks.
Sterling groups Lambda Labs in the AI Software sector, alongside CoreWeave (CRWV), Nebius Group (NBIS), Applied Digital (APLD), IREN (Iris Energy), Together AI (private) and Fireworks AI (private).
If you are researching Lambda Labs, also look at CoreWeave (CRWV), Nebius Group (NBIS) and Applied Digital (APLD). You can compare all of them side by side or browse the full AI Software sector on Sterling.
