Lambda to raise $4B at $14.5B valuation ahead of IPO

Nvidia-backed AI cloud provider Lambda is raising up to $4B at a $14.5B pre-money valuation, led by Coatue and Blackstone, likely its last private round before a planned 2027 IPO. Its backlog grew from $15B in June to $50B in September, but $35B of that comes from Anthropic alone.

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