Lambda Customer Base, Marquee Accounts, and Fleet Scale
| Cohort / Account | Figure | As of | Note |
|---|---|---|---|
| AI developers and teams (total) | 200,000+ | 2025 | Long-tail self-serve GPU renters |
| Paying customers (count) | ~5,000 to 10,000+ | 2023 to 2024 | Roughly doubled YoY (Contrary Research) |
| Lambda Cloud sign-ups | 100,000+ | 2024-2025 | Funnel top; not all converted to paid |
| Lambda Stack ML teams (open-source) | 50,000+ | 2024-2025 | Open-source GPU/driver bundle adoption |
| NVIDIA | Anchor account + investor + lessor | 2024-2026 | Founding NCP; at one point Lambda's largest customer; GPU leaseback lender |
| Microsoft | Multibillion-dollar, multi-year | Q4 2025 | Azure capacity-overflow compute agreement; exact terms undisclosed |
| Other named customers | Amazon, Apple, Tencent, Raytheon, Kaiser Permanente, US DoD, MIT, Stanford, Harvard, Caltech | 2024-2026 | Enterprise, defense, and academic accounts |
| Supercluster scale (per deployment) | up to ~165,000 GPUs | 2025-2026 | Largest provisioned configuration |
| 1-Click Cluster scale (per deployment) | up to ~2,000 GPUs | 2025-2026 | Self-serve multi-node NVLink + InfiniBand clusters |
Updated at 2026-06
Lambda Data-Center Power Capacity Buildout (MW toward 3 GW)
| Site / Milestone | Status (date) | Power Capacity (MW) | Detail |
|---|---|---|---|
| Prime Data Centers, Vernon CA | Leased | ~21 MW | Liquid-cooled GPU capacity (per Sacra) |
| Kansas City, MO AI factory | Opening early 2026 | ~24 MW initial | $500M facility; >10,000 Nvidia Blackwell Ultra GPUs at open |
| EdgeConneX partnership | Signed (2026) | >30 MW | Additional capacity via EdgeConneX |
| Total leased / signed / committed | As of Nov 2025 | >320 MW | Disclosed alongside the Series E |
| 2030 capacity target | Target (2030) | 3,000 MW (3 GW) | Liquid-cooled; the explicit goal of the Series E raise |
| 2030 GPU target | Target (2030) | n/a (>1,000,000 GPUs) | More than one million Nvidia GPUs across the fleet |
Updated at 2026-06
Lambda Funding Rounds, Valuation, and GPU Debt
| Round / Instrument (date, lead) | Amount Raised | Valuation | Notable Investors / Lenders |
|---|---|---|---|
| Series A (2018-05) | $24.5M | n/a | Bloomberg Beta, Razer, Susa Ventures, Gradient Ventures |
| Series B (2021-06, 1517 Fund) | $44M | n/a | 1517 Fund, Bloomberg Beta, Razer |
| Series C (2024-04, US Innovative Technology Fund) | $320M | $1.5B | USIT, B Capital, SK Telecom, Crescent Cove |
| Series D (2025-02, Andra Capital and SGW) | $480M | $2.5B | Andra Capital and SGW (co-leads), ARK Invest, In-Q-Tel, NVIDIA, Pegatron, Supermicro, Wistron, Wiwynn, Andrej Karpathy (angel) |
| Series E (2025-11, TWG Global) | ~$1.5B | ~$5.9B (reported) | TWG Global, USIT, existing syndicate |
| Nvidia GPU leaseback / lending (2024-2025) | ~$1.3B (10,000 chips) + ~$200M (8,000 chips); ~$1.5B (18,000 GPUs, Sep 2025) | Asset-backed (not a priced equity round) | NVIDIA (sale-leaseback / lending), Macquarie, Pacific Western |
| Pre-IPO convertible (2026, RUMORED, Mubadala Capital) | ~$350M (RUMORED) | ~20% discount to eventual IPO (reported) | Mubadala Capital (reported lead); not confirmed in a Lambda primary announcement |
Updated at 2026-06
Lambda On-Demand GPU Pricing by SKU (USD per GPU-hour)
V100-B200 SXM6
Updated at 2026-06
Lambda Revenue Run-Rate Trajectory
2022-2025 (annualized)
Revenue Run-Rate (USD M)
Updated at 2026-06
Lambda Labs in AI Software
OpenAI
$PRIVATE
Largest AI lab by revenue. Approximately $13B annualized run-rate revenue (mid-2025) from a mix of ChatGPT consumer subscriptions, ChatGPT Enterprise / Team, the OpenAI API, and Microsoft Azure OpenAI revenue share. ChatGPT reaches roughly 800M weekly active users (late 2025). Builder of the GPT family (GPT-4o, GPT-4.5, GPT-5, o-series reasoning models) and Sora video. Microsoft is the dominant compute and distribution partner; SoftBank led the $40B March 2025 primary round at $300B.
