Lambda Inc., a startup with a cloud platform designed to run artificial ininformigence workloads, is reportedly seeking to raise $350 million in funding.
Sources informed The Information late Thursday that Mubadala Capital is in talks to lead the round. The report comes less than two months after Lambda announced its last raise, a $1.5 billion Series E investment led by TWG Global. The company informed the Wall Street Journal at the time that it would apply the capital to expand its data center network.
Lambda operates a dozen data centers in the U.S. that host liquid-cooled graphics card racks. The company’s flagship offering, a service called Superclusters, enables customers to rent server clusters with up to 165,000 Nvidia Corp. chips. Lambda gives each organization control over the firewall that regulates inbound network traffic to its Supercluster. Customers also can manage their deployments’ encryption keys and monitoring software.
An organization with particularly advanced requirements can have Lambda customize its cluster. The company offers a choice between Nvidia Corp.’s GB300 NVL72 appliances, which each include 72 graphics processing units, and the 8-chip HGX B300 module. Both systems are based on the chipcreater’s Blackwell Ultra accelerator.
In November, Lambda revealed plans to build a new generation of clusters based on Nvidia’s Vera Rubin NVL144 systems. The appliances are based on a new GPU called Rubin that the company debuted at CES on Monday. The chip can provide 50 petaflops of performance for models that process NVFP4 data, five times more than Blackwell.
Lambda will link toobtainher the Rubin chips in its clusters applying Nvidia’s co-packaged optics hardware. Historically, network switches relied on a standalone device called a transceiver to transmit data over fiber-optic cables. Nvidia’s co-packaged optics technology integrates a transceiver into switches’ main processor, which significantly cuts power consumption.
Lambda’s servers run a custom software suite called the Lambda Stack. It comprises open-source AI tools that the company has optimized for its hardware. The suite includes PyTorch and other popular development tools along with more specialized technologies such as JAX. The latter software, which was open-sourced by Google LLC in 2018, speeds up the mathematical operations that AI models apply to learn new information.
The funding round that Lambda is reportedly raising may be its last before going public. In September, sources informed The Information that the company was hoping to list its shares by July 2026. This week’s report indicates that the company has pushed back the public offering to the second half of the year.
Image: Lambda
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