Key facts
- Lambda is seeking to raise up to $4 billion in a funding round.
- The pre-money valuation for the round is $14.5 billion.
- The funding round is expected to be Lambda's final before a planned IPO.
- Investment firms Blackstone and Coatue Management are reportedly leading the round.
- Lambda aims to go public in 2027.
- The company's backlog of unfilled orders reached $50 billion in September.
Cloud-computing company Lambda is reportedly seeking to raise up to $4 billion in a funding round at a pre-money valuation of $14.5 billion, according to a Wall Street Journal report citing people familiar with the matter. This round is expected to be Lambda's final before a planned initial public offering.
Investment firms Blackstone and Coatue Management are said to be leading the funding round. The company's backlog of unfilled orders significantly increased to $50 billion in September, up from $15 billion in June, as detailed in a letter to the company's limited partners reviewed by the Journal.
Lambda is targeting an IPO in 2027, with the timing dependent on execution and prevailing market conditions.