Nvidia (NVDA)-backed GPU cloud provider Lambda is currently in talks to raise at least $350M in pre-IPO funding, The Information reported.
Mubadala Capital is in talks to lead the round, the report added.
This move supports a planned IPO in H2 2026, slightly delayed from earlier timelines.
Lambda, which refers to itself as a superintelligence cloud company, develops AI cloud infrastructure, was founded in 2012, and is based in California. The cloud firm deploys over 1M Nvidia (NVDA) GPUs across data centers in Atlanta, Los Angeles, Chicago, and Austin. Nvidia (NVDA) is not only a backer and supplier of Lambda, but it is also a client.
In mid-2025, Lamda announced a $480 million Series D investment, with a valuation close to $4B.
Peers like CoreWeave have seen shares double post-IPO, drawing fund interest to AI cloud plays.
