Founded in 2012, Lambda provides cloud, on-premises, and consulting services for companies training AI models. The company's platform delivers access to large clusters of Nvidia Corp.’s graphics processing units, enabling customers to train and deploy AI models. Lambda's private cloud business serves over 5,000 customers across various industries, including manufacturing, healthcare, pharmaceuticals, financial services, and U.S. government interests.
Key takeaways:
- AI cloud compute startup Lambda has raised $320 million in a Series C funding round, bringing the company's valuation to $1.5 billion.
- The funding round was led by Thomas Tull’s US Innovative Technology with participation from new investors B Capital, SK Telecom and existing investors Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta and Gradient Ventures.
- Lambda plans to use the new funding to scale out its Nvidia chip offerings, grow its GPU cloud, and build more network apparatus using Nvidia’s Quantum-2 Infiniband networking capabilities.
- Lambda's private cloud business serves over 5,000 customers across various industries and big customers include Anyscale Inc., Rakuten Group Inc. and The AI Institute.