GPU cloud startup Lambda Labs has raised an astounding $320 million in Series C funding, increasing its valuation to almost $1.5 billion. Lambda Labs was founded in 2012 and has more than ten years of experience building large-scale AI infrastructure. With the help of this most recent funding, Lambda hopes to make GPU computing as ubiquitous as electricity.
As an early adopter of NVIDIA H100 Tensor Core GPUs, Lamba boasts an impressive base of over 100,000 customer sign-ups on Lambda Cloud. This makes it possible for AI developers to quickly access state-of-the-art architectures for tasks like generative AI, large language models, and foundational models, as well as for training and fine-tuning.
With more than 5,000 clients in the manufacturing, healthcare, pharmaceutical, financial services, and government sectors, Lambda has a broad range of expertise. Global heavyweights like Anyscale, Rakuten, The AI Institute, and other businesses with a combined market value of trillions of dollars have come to appreciate its AI Cloud.
Leading this latest funding round is Thomas Tull’s US Innovative Technology Fund. Other participants include existing backers Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, as well as prestigious investors B Capital, SK Telecom, and T. Rowe Price Associates.
In the middle of this significant fundraising milestone, Lambda’s co-founder and CEO, Stephen Balaban, stated, “AI is fundamentally restructuring science, commerce, and industry. In the next ten years, generative AI and LLMs will be integrated into every human endeavor to enhance it. Many GPUs will be needed for this AI adoption. This most recent funding helps us to fulfill our goal of making GPU computing as commonplace as electricity.”
Superchips and NVIDIA H100 GPUs
USIT Chairman Thomas Tull stressed the need for a strong infrastructure to advance American leadership in AI innovation. He praised Lambda as a deep-learning industry innovator, providing an unmatched combination of hardware, cloud infrastructure, and integrated software tools that enable AI developers to work quickly and effectively. Mr. Tull sees Lambda's technology serving as the foundation for hyperscale AI in the future.
Since its most recent round of investment in March 2023, Lambda has achieved a number of noteworthy milestones. It quickly evolved into one of the top public clouds, utilizing systems driven by Superchips and NVIDIA H100 GPUs. Even with the increasing demand for generative AI, Lambda continues to have an impressive stock of the newest NVIDIA GPUs and would be able to provide them at competitive prices all over the world.
The Executive Chairman and co-founder of Anyscale, Dr. Ion Stoica, praised Lambda for its strategic focus on meeting the growing need for high-performance, affordable, and easily available cloud infrastructure designed for AI applications. To advance cutting-edge price-performance criteria in the field of artificial intelligence, Mr. Stoica stressed the significance of collaborations such as theirs.
Lambda Labs’s most recent fundraising success highlights the company's ability to raise capital as well as its critical role in driving the AI revolution.
