Lambda to Raise $4B Ahead of Planned IPO

Lambda, a cloud provider, is raising up to $4 billion at a $14.5 billion pre-money valuation, potentially marking its last private funding round before a planned IPO in 2027. The company's backlog increased from $15 billion in June to $50 billion in September, largely due to a $35 billion commitment from Anthropic. Lambda's decision to raise additional funds comes amid increasing demand for GPU capacity and a challenging funding environment for data center buildouts.