Lambda Aims to Raise $4 Billion for 2027 IPO as GPU Cloud Market Heats Up

Nvidia-backed GPU cloud provider Lambda is preparing for public markets with a $4 billion fundraise at a $14.5 billion pre-money valuation, led by Coatue Management and Blackstone, targeting a 2027 IPO. The funding round arrives as the San Francisco-based company's backlog exploded from $15 billion in June to $50 billion in September, fueled primarily by a landmark $35 billion six-year cloud computing agreement signed with Anthropic in late August.