Skip to content

GPU Cloud Company Lambda Gets $320M Series C

Source: Lambda

San Jose, CA / Seoul, South Korea - Lambda, a GPU cloud company specializing in AI-focused computing solutions, has secured a $320 million Series C funding round. 

The investment was led by Thomas Tull's US Innovative Technology, with participation from SK Telecom, B Capital, and existing investors, including T. Rowe Price Associates, Mercato Partners, Crescent Cove, 1517 Fund, Bloomberg Beta, and Gradient Ventures.

Lambda intends to use the new capital to scale its AI cloud business and expand its on-demand and reserved cloud offerings. 

Founded in 2012, the San Jose, California-based company provides NVIDIA-powered infrastructure tailored for AI development and has served over 5,000 customers across industries.

SK Telecom, one of the investors, said in a press release that its investment will allow the company to acquire GPUs and further develop its AI data center business based on what it describes as the most extensive AI cloud capabilities in South Korea. 

In addition, SK Telecom plans to sign a strategic partnership agreement with Lambda for global business cooperation in the first half of this year. 

They will initially aim to enter the AI cloud market in South Korea and abroad.