Lambda Receives $500M GPU-Backed Facility


Lambda, a San Jose, Calif.-based GPU cloud company powered by NVIDIA GPUs, secured a special purpose GPU financing vehicle of up to $500m.

The financing was led by Macquarie Group with participation from Industrial Development Funding, and follows Lambda’s $320m Series C funding round in February 2024.

The company will use the resources, secured by the GPUs and supported by their cash flow generation, for the expansion of its on-demand cloud offering.

Founded in 2012, Lambda is an AI compute platform serving developers across the entire AI development lifecycle. It enables AI engineers to securely build, test and deploy AI products at scale. Its product portfolio spans from on-prem GPU hardware to hosted GPUs in the cloud.

Lambda Cloud has more than 100,000 customer sign-ups. The company also supports NVIDIA AI Enterprise to deliver a complete stack for generative AI developers.

The financing allows the company to fund on-demand cloud deployments for NVIDIA GPU deployments for AI developers training, fine-tuning, and inferencing generative AI models in Lambda Cloud.