GPU neoclouds · US

Lambda was valued at $5.9B as of 18 November 2025 (reported). Source: Lambda raises over $1.5B in a Series E led by TWG Global with Thomas Tull's US Innovative Technology Fund, to build superintelligence cloud infrastructure (company blog; valuation not disclosed).

Developer-led GPU cloud; 15 US data centres, targeting 1M+ NVIDIA GPUs and 3GW of liquid-cooled capacity, with revenue guided above $1.5B for 2026.

Valuation

$5.9B

Confidence

reported

As of

18 November 2025

Layer

GPU neoclouds

Signal

AI Factory

Website

lambda.ai

Relationships (5)

Notes

Developer-led GPU cloud; 15 US data centres, targeting 1M+ NVIDIA GPUs and 3GW of liquid-cooled capacity, with revenue guided above $1.5B for 2026. Signed a multi-year, multibillion-dollar agreement in November 2025 to supply Microsoft with tens of thousands of NVIDIA GB300 GPUs. The $5.9B is a secondary-market post-money for the Nov 2025 Series E, not a figure either the company or a primary report states. Signed a six-year, $35B compute deal with Anthropic in late August 2026 for roughly 350 MW of GPU capacity at Hut 8's Beacon Point campus in Nueces County, Texas, in a structure where NVIDIA leases the site from Hut 8 and Lambda pays NVIDIA for access - the single largest item behind a backlog that grew from $15B in June to $50B in September. The WSJ reported on 2026-10-06 that Lambda is raising up to $4B led by Coatue and Blackstone in a final round before a 2027 IPO, at a valuation of about $14.5B excluding the new money; that round is NOT closed, so the mark does not move. Closed a $1.008B senior secured fixed-rate financing on 2026-10-01 - an investment-grade, delayed-draw term loan at a 6.78% fixed semi-annual coupon, fully amortising to a May 2033 maturity, rated A (low) by Morningstar DBRS and Baa1 by Moody's, with J.P. Morgan as sole coordinating lead arranger and bookrunner. It funds GPU infrastructure for three committed customer deployments with two investment-grade offtakers, and is Lambda's first US fixed-rate deal and its second institutional credit facility after a broadly syndicated loan closed 2026-08-27. Debt, not equity, so it does not move the mark.

Sources

• Lambda raises over $1.5B in a Series E led by TWG Global with Thomas Tull's US Innovative Technology Fund, to build superintelligence cloud infrastructure (company blog; valuation not disclosed) 2025-11-18
• Lambda Raises Over $1.5B From TWG Global, USIT to Build Superintelligence Cloud Infrastructure (company release) 2025-11-18
• DCD, AI cloud company Lambda raises more than $1.5bn in a Series E funding round 2025-11-18
• Forge Global secondary-market data, Lambda post-money valuation $5.9B as of November 2025 (the only source for the figure; no primary states it) 2025-11-18
• Bloomberg, Anthropic Strikes $35 Billion Cloud Deal With Nvidia-Backed Lambda (six years, ~350 MW at Hut 8's Beacon Point campus, Texas; terms not published by either party) 2026-08-31
• TechCrunch, AI computing startup Lambda to raise $4B ahead of planned IPO (WSJ-originated; ~$14.5B pre-money, Coatue and Blackstone leading; backlog $15B June to $50B September) - TALKS, not closed 2026-10-06

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Last updated 18 November 2025. Follow Lambda in any feed reader to hear when its valuation moves.

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