AI neocloud provider Lambda is reportedly seeking up to $4 billion in a new funding round, according to sources cited by The Wall Street Journal. Investment firms Blackstone and Coatue are leading the round.
The financing would value Lambda at $14.5 billion before the investment. It is expected to be the company’s final private funding round before its planned IPO.
Lambda provides specialized cloud infrastructure for training and running AI models. Demand for this infrastructure has surged.