Lambda Plans $4B Fundraising Ahead of $14.5B Valuation and IPO in 2027

Lambda is set to raise $4 billion, targeting a pre-money valuation of $14.5 billion ahead of its planned IPO in 2027. The company's backlog surged from $15 billion in June to $50 billion by September 2026, reflecting significant demand for its AI computing services. Anthropic has committed $35 billion to Lambda, further solidifying its financial backing. Notably, Lambda raised $1 billion in additional debt last week, highlighting the trend that data center buildouts are primarily funded through debt. This follows the recent IPO filing of Nscale, another neocloud, in September 2026. Lambda's growth positions it alongside other Nvidia-backed neoclouds like CoreWeave and Nebius, which are also expanding rapidly in the AI infrastructure space.