Lambda Lands $500 Million for NVIDIA-Powered Cloud-Based AI

<p><strong>SAN JOSE<&sol;strong> &&num;8212&semi; <a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Flambdalabs&period;com&amp&semi;esheet&equals;53921333&amp&semi;newsitemid&equals;20240402148086&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Lambda&amp&semi;index&equals;1&amp&semi;md5&equals;52ec99924438ef83fd2a05ba4ed96b46" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Lambda<&sol;a>&comma; the GPU cloud company founded by AI engineers and powered by NVIDIA GPUs&comma; has secured a special purpose GPU financing vehicle of up to &dollar;500 million to fund the expansion of its on-demand cloud offering&period; The financing was led by Macquarie Group with participation from Industrial Development Funding &lpar;&OpenCurlyDoubleQuote;IDF”&rpar;&comma; and follows Lambda’s &dollar;320 million <a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Flambdalabs&period;com&percnt;2Fblog&percnt;2Flambda-raises-320m-to-build-a-gpu-cloud-for-ai&amp&semi;esheet&equals;53921333&amp&semi;newsitemid&equals;20240402148086&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Series&plus;C&plus;funding&plus;round&amp&semi;index&equals;2&amp&semi;md5&equals;5f2cdbc9d4f35f96f42069e3b9a49ae1" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Series C funding round<&sol;a> in February 2024&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This first-of-its-kind financing vehicle unlocks a new way to fund the deployment of tens of thousands of NVIDIA GPUs&comma;” said Mitesh Agrawal&comma; Lambda COO&period; &OpenCurlyDoubleQuote;Lambda’s mission is to continue to build the best AI compute platform in the world&comma; and this structure lets our AI startup customers build the next generation of iconic companies on top of our cloud without the barrier of expensive multi-year contracts&period;”<&sol;p>&NewLine;<p>This innovative asset-based structure is secured by the GPUs and supported by their cash flow generation&period; It represents a significant milestone within the AI compute market&comma; and allows Lambda to fund on-demand cloud deployments for thousands of users without the need for them to sign a long-term contract&period; Securing funding for an on-demand offering is rare and serves as a testament to the leadership position and explosive demand for Lambda Cloud&comma; which has more than 100&comma;000 customer sign-ups&period; This financing supports NVIDIA GPU deployments for AI developers training&comma; fine-tuning&comma; and inferencing generative AI models in Lambda Cloud&period; Lambda also supports NVIDIA AI Enterprise to deliver a complete stack for generative AI developers&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As demand for computing picks up pace alongside the widespread integration of LLMs and generative AI&comma; we’re happy to support Lambda as they deliver what AI engineers need&comma;” said Don Trent&comma; Senior Managing Director in Macquarie Group’s Commodities and Global Markets business&period; &OpenCurlyDoubleQuote;We’re proud to partner with Lambda on such a pioneering effort and support the buildout of GPU cloud infrastructure that will transform industries and businesses alike&period;”<&sol;p>&NewLine;