Lambda Raises $320 mn in VC Funding Round Led by US Innovative Technology

Lambda, a prominent artificial intelligence computing firm, has raised $320 million in a Venture Capital (VC) funding round. The VC funding was spearheaded by billionaire Thomas Tull’s US Innovative Technology, signaling a significant boost for Lambda’s AI cloud business.
VC funding for techLambda’s CEO and Co-founder, Stephen Balaban, emphasized the pivotal role of Graphics Processing Units (GPUs) in the AI revolution, stating, “This AI rollout is going to require a lot of GPUs. This latest financing supports our mission to make GPU compute as ubiquitous as electricity.”

Established in 2012, Lambda has cultivated a diverse clientele, serving over 5,000 customers spanning industries such as manufacturing, financial services, and government sectors through its hardware and private cloud offerings.

The funding round attracted a consortium of investors, including B Capital, SK Telecom, funds and accounts advised by T. Rowe Price Associates, Crescent Cove, and Mercato Partners, underscoring the broad interest and confidence in Lambda’s vision and capabilities.

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