Thomas Tull’s US Innovative Technology Leads $320M Investment in Lambda, Valuing the AI Compute Platform at $1.5B

Lambda, a prominent player in the AI compute platform domain, has successfully concluded a funding round, amassing an impressive $320 million.

The round was spearheaded by Thomas Tull’s US Innovative Technology and saw active participation from a lineup of notable investors.

B Capital, SK Telecom, funds and accounts advised by T. Rowe Price Associates, Inc., along with existing investors like Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, were among the participants.

Strategic Utilization of Funding

Lambda envisions utilizing the raised capital to propel the expansion of its AI cloud business.

The expansion efforts will particularly focus on enhancing on-demand and reserved cloud offerings.

This strategic allocation reflects Lambda’s commitment to further developing its AI compute platform and catering to the evolving needs of AI developers.

Foundational Overview of Lambda

Founded in 2012, Lambda has established itself as a pivotal AI compute platform, catering to developers throughout the entire AI development lifecycle.

The platform empowers AI engineers by facilitating the building, testing, and deployment of AI products at a scalable level.

Lambda’s comprehensive product portfolio spans on-prem GPU hardware to hosted GPUs in the cloud.

Clientele and Significance in AI Development

Lambda boasts an impressive clientele, with over 100,000 customer sign-ups on Lambda Cloud.

Recognized as an early provider of NVIDIA H100 Tensor Core GPUs, the platform is preferred by AI developers for its accessibility to architectures crucial for training, tuning, and inferencing of generative AI, large language models, and foundation models.

Lambda’s impact extends across various sectors, serving more than 5,000 customers in manufacturing, healthcare, pharmaceuticals, financial services, and the U.S. government.

Adoption by Key Entities

Lambda’s AI Cloud has garnered adoption from notable entities such as Anyscale, Rakuten, The AI Institute, and several enterprises boasting market capitalizations exceeding a trillion dollars.

Towards a Robust Future

With substantial funding secured and a valuation surpassing $1.5 billion, Lambda is poised to propel its AI compute platform to new heights.

The strategic infusion of capital and support from a diverse group of investors solidify Lambda’s position as a key player in advancing AI development and innovation.

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