Cloud provider Lambda is preparing to raise up to $4 billion in a new funding round. The company is valued at $14.5 billion pre-money, which is expected to be its final private financing before a planned IPO in 2027.
The investment round is led by Coatue Management and Blackstone. Lambda’s backlog of orders saw a significant increase, rising from $15 billion in June to $50 billion in September. This growth is largely attributed to a $35 billion contract signed with Anthropic in late August.
To support its data center infrastructure, Lambda also secured an additional $1 billion in debt financing last week. The company previously aimed for an IPO in 2025 but postponed the debut due to market uncertainty.
Lambda operates as a neocloud provider, similar to other Nvidia-backed firms like CoreWeave and Nebius. These companies rely on capital to fund the expansion of their data centers, with Nscale also recently filing for an IPO.
