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 assistance of this latest funding round, Lambda hopes to make GPU computing as ubiquitous as electricity.
As an early adopter of NVIDIA H100 Tensor Core GPUs, Lamba can boast of a remarkable base of over 100,000 customer sign-ups on Lambda Cloud. This enables AI developers to quickly access cutting-edge architectures for tasks like generative AI, large language models, and foundational models, as well as for training and fine-tuning.
With over 5,000 clients in the manufacturing, healthcare, pharmaceutical, financial services, and government sectors, Lambda has a wide range of expertise. World-leading businesses like Anyscale, Rakuten, The AI Institute, and others boasting a combined market value in the trillions have come to appreciate its AI Cloud.
Leading the latest funding round is Thomas Tull’s US Innovative Technology Fund. Additional participants include current 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.
Lambda’s co-founder and CEO, Stephen Balaban, expressed during a crucial fundraising milestone, “AI is fundamentally restructuring science, commerce, and industry. Over the next ten years, generative AI and LLMs will be implemented into every aspect of our lives to improve them. Countless GPUs will be required for this AI integration. This latest funding aids us in achieving our objective of making GPU computing as everyday as electricity.”
USIT Chairman Thomas Tull highlights the necessity for robust infrastructure to propel American AI innovation leadership. He commends Lambda for being a vanguard in the deep-learning industry by offering an unparalleled blend of hardware, cloud infrastructure and cohesive software tools enabling AI developers to work rapidly and efficiently. Tull visualises Lambda’s technology to serve as the backbone for hyperscale AI in the future.
Since its latest investment round in March 2023, Lambda has accomplished a myriad of remarkable milestones. It has swiftly transformed into one of the leading public clouds, employing systems powered by Superchips and NVIDIA H100 GPUs. Even with the escalating demand for generative AI, Lambda continues to maintain a commendable inventory of the newest NVIDIA GPUs and can offer them at competitive prices globally.
The Executive Chairman and co-founder of Anyscale, Dr. Ion Stoica, commends Lambda for their strategic focus on catering to the burgeoning requirement for high-functioning, affordable, and easily accessible cloud infrastructure designed purposely for AI applications. To drive forward the leading-edge price-performance standards in AI, Stoica emphasizes the importance of partnerships like theirs.
Lambda Labs‘s latest fundraising triumph underlines the ability of the company to attract finance and its central part in propelling the AI revolution.
