Lambda, an AI-focused GPU cloud computing company, is negotiating to raise up to $3 billion ahead of a planned IPO in the second half of 2026. The company was valued at approximately $5.9 billion following its latest Series E funding round of over $1.5 billion in November 2025. A pre-IPO financing of at least $350 million is reportedly under discussion, potentially led by Mubadala Capital. Since its founding in 2012, Lambda has raised roughly $2.36 billion in equity and secured a leveraged loan of around $900 million for GPU infrastructure purchases. Morgan Stanley and J.P. Morgan have been hired to assist with IPO preparations.
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