Organisation
Lambda
A GPU cloud provider renting Nvidia capacity for training and running AI models, plus AI workstations and software.
Lambda is a US company, founded in 2012 by the brothers Stephen and Michael Balaban, that rents out Nvidia GPU capacity as a cloud service for training and running AI models — one of the "neocloud" providers competing with the likes of CoreWeave. It began by selling AI workstations before shifting to cloud infrastructure, and has signed multi-billion-dollar capacity agreements, including with Microsoft. Lambda raised a $480m round in February 2025 at a reported $2.5bn valuation, and later in the year said it had raised over $1.5bn more to expand its data-centre footprint.
- Category
- Compute, chips & infrastructure
- Founded
- 2012
- HQ
- San Jose, US
- Funding
- $480m Series D (Feb 2025) at a reported ~$2.5bn valuation; later raised $1.5bn+ (Series E)
- Key people
- Stephen Balaban, Michael Balaban