AI cloud company Lambda has raised $480 million in a Series D round.
Andra Capital and SGW led the investment, alongside new investors Andrej Karpathy (of OpenAI and Tesla fame), ARK Invest, Fincadia Advisors, G Squared, In-Q-Tel (the CIA’s investment arm), KHK & Partners, Nvidia, and others.
Server makers Pegatron, Supermicro, Wistron, and Wiwynn also made a ‘strategic investment,’ while additional participation came from existing investors including 1517, Crescent Cove, and USIT.
“This round will fuel the expansion of Lambda’s Cloud Platform,” CEO and co-founder Stephen Balaban said. “We’re scaling both infrastructure and software, enabling AI developers to train, fine-tune, and deploy models faster and easier than ever.”
The Silicon Valley-based business pitches itself as the cloud service for AI developers, with Lambda GPU Cloud operating out of colocation data centers in San Francisco, California, and Allen, Texas. Last year, DCD exclusively reported that the company was subletting a Prime data center in Vernon, through an unusual deal with Supermicro.
Alongside its cloud service, it helps enterprises deploy Nvidia servers at their own data centers. Earlier this year, the company installed a GB200 NVL72 rack at ECL’s hydrogen-powered data center in Mountain View, California.
“The AI revolution is in full swing, and Lambda is here to power it,” Balaban continued. “We envision a future where the impact of AI is so substantial that it’s used daily by every man, woman, and child on the planet.
“A world of one person, one GPU. Let’s build it together.”