Nvidia-backed Superintelligence cloud computing provider Lambda is in talks to raise up to $3 billion ahead of a potential initial public offering next year, Bloomberg reported Tuesday, citing people familiar with the efforts.
The round could value the neocloud firm, which rents access to chips and AI infrastructure, at $12 billion or more, according to the people. However, fundraising talks are ongoing, and terms have not been finalized, they said.
Lambda has already received multiple term sheets for the round, which some close to the company said could see the California-based firm go public as early as next year, according to Bloomberg.
Lambda previously raised over $1.5 billion in Series E funding, announced last November, led by TWG Global, a holding company led by Thomas Tull and Mark Walter. Thomas Tull’s US Innovative Technology Fund (USIT) also participated in that round, alongside several existing investors. OpenAI founding member Andrej Karpathy and Cathie Wood's Ark Invest are also among its backers.
“Our mission is to make compute as ubiquitous as electricity and bring the power of AI to every person in America," Lambda co-founder and CEO Stephen Balaban said previously.
Lambda's talks come amid a wave of investor interest in the space. Earlier this month, Velaura AI raised $110 million in Series A financing at a valuation of more than $1 billion, The Latent reported. AI chip startup Fractile is also reportedly in advanced talks to raise about $600 million, and Nvidia is considering an investment in Perplexity's equity round at a $30 billion valuation. Meanwhile, Anthropic could reportedly still file to go public as early as this month amid soaring revenue.