Nvidia-backed Lambda targets $4 billion raise ahead of planned IPO, WSJ reports

Oct 6 : Nvidia-backed cloud-computing company Lambda is raising up to $4 billion at a pre-money valuation of $14.5 billion in what would be its final funding round before a planned initial public offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Here are more details:

• Investment firms Blackstone and Coatue Management are leading the round, the report said.

• Lambda is aiming to go public in 2027, depending on execution and market conditions, according to a letter to the company’s limited partners reviewed by the Journal.

• The company’s backlog of unfilled orders grew to $50 billion in September from $15 billion in June, according to the letter.

• Lambda did not immediately respond to a Reuters request for comment.