Reuters reported on 6 October that Nvidia-backed cloud-computing company Lambda is raising up to $4 billion at a $14.5 billion pre-money valuation, citing a Wall Street Journal account based on people familiar with the matter.
Blackstone and Coatue Management are leading the round, which would be Lambda’s final funding round before a planned initial public offering.
Reuters reported that a letter to the company’s limited partners put its backlog of unfilled orders at $50 billion in September, up from $15 billion in June. According to the letter, Lambda targets a 2027 stock-market debut, subject to its ability to deliver and prevailing market conditions.
Lambda did not immediately respond to a request for comment, Reuters reported.
