Nvidia-backed Lambda targets $4 billion raise ahead of planned IPO: WSJ

Nvidia-backed cloud-computing company Lambda is raising up to $4 billion at a pre-money valuation of $14.5 billion in what would be its final funding round before a planned initial public offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Investment firms Blackstone and Coatue Management are leading the round, the report said.

Lambda is aiming to go public in 2027, depending on execution and market conditions, according to a letter to the company's limited partners reviewed by the Journal.


The company's backlog of unfilled orders grew to $50 billion in September from $15 billion in June, according to the letter.

Lambda did not immediately respond to a Reuters request for comment.