Lambda, a cloud computing company that provides hardware and services for artificial intelligence hyperscalers, labs and enterprises, is apparently preparing to launch an initial public offering sometime in the next year, according to a report by TechCrunch.
The AI infrastructure company has hired J.P. Morgan, Morgan Stanley and Citi to help it go public, possibly during the first half of 2026, according to the report.
Earlier this year, Lambda raised $480M in a Series D funding round led by Andra Capital and SGW with participation from Andrej Karpathy, ARK Invest, Fincadia Advisors, G Squared, In-Q-Tel, KHK & Partners and NVIDIA (NVDA) to help the company expand its cloud platform.
Lamdba provides clients access to Nvidia clusters. It recently unveiled Nvidia’s SHARP, Scalable Hierarchical Aggregation and Reduction Protocol, on its multi-tenant 1CC environments. It is intended to reduce communication latency and improve bandwidth efficiency, directly accelerating the training speed of distributed AI workloads.
The company was founded in 2012 and competes with CoreWeave (NASDAQ:CRWV), which launched its IPO in March 2025. CoreWeave shares have more than doubled since its IPO date.