Nvidia-Backed Lambda Raising $4B at $14.5B Pre-Money as Blackstone and Coatue Lead Final Pre-IPO Round

WSJ reports Nvidia-backed GPU-cloud operator Lambda is raising up to $4B at a $14.5B pre-money valuation, with Blackstone and Coatue leading the round. It would be Lambda's final private financing before a planned 2027 IPO. The company's unfilled-order backlog grew to roughly $50B in September from $15B in June.