Lambda, an NVIDIA-backed AI cloud infrastructure provider that leases chips and
other AI hardware, is negotiating up to $3 billion in financing at a valuation
of up to $12 billion or higher, people familiar with the matter said. Talks are
ongoing and terms have not been finalized; the round has drawn multiple bids and
could help pave the way for an IPO as soon as next year. Insiders said Lambda
expects revenue to exceed $1.5 billion this year.
