Lambda Labs

Lambda, the Nvidia-backed neocloud company co-founded by twin brothers Stephen and Michael Balaban, is in talks to raise up to $4 billion in what is expected to be its final private funding round before a planned 2027 IPO. The round, led by Blackstone and Coatue Management, values Lambda at $14.5 billion pre-money, up sharply from a $5.9 billion post-money valuation just last November.