SAN JOSE, CALIF. -- Lambda, the AI Developer Cloud, announced it has raised a $480 million Series D, bringing the total equity capital raised to date to $863 million. The round was co-led by Andra Capital and SGW with participation from new investors Andrej Karpathy, ARK Invest, Fincadia Advisors, G Squared, In-Q-Tel (IQT), KHK & Partners, and NVIDIA, among others, as well as strategic investment from Pegatron, Supermicro, Wistron, and Wiwynn, as well as many existing investors including 1517, Crescent Cove, and USIT.

“AI is fundamentally restructuring our economy. Lambda is investing billions of dollars to build the software platform and infrastructure powering AI,” said Lambda CEO and co-founder Stephen Balaban. “We build software tools that delight the AI Developer, and a platform that truly puts AI into the hands of the many. This investment will accelerate the expansion of the Lambda Cloud platform, Lambda Model Inference API, and Lambda Chat AI Assistant.”

Building a Hyperscaler Cloud for AI Developers & End-Users

Lambda provides infrastructure, cloud services and software for the fine-tuning, training, and inferencing of AI models. Following the company’s last funding announcement in April, Lambda has grown rapidly. The company expanded its SOC 2 compliance to Type II - a major milestone in providing a highly secure public cloud environment. It launched the first self-serve and on-demand GPU clusters for AI model training: 1-Click Clusters. Leveraging Lambda’s massive base of owned compute infrastructure, the company has introduced the Lambda Inference API and Lambda Chat AI Assistant, offering hosted access to open source models like DeepSeek R1.

“In a landscape where speed and scalability are paramount, Lambda’s deep understanding of AI hardware and software provides developers with critical infrastructure to stay ahead of the curve,” said Paul Tuan, Managing Partner of Andra Capital. “We’re confident that Lambda’s solutions will be central to powering the next wave of AI-driven innovation and delivering tangible value across industries.”

JPMorgan acted as private placement agent in the financing.