GPU Cloud Company Lambda Announces $320M Series C

February 15, 2024Client News

Gunderson Dettmer represented client Lambda, a GPU cloud company, in its $320 million Series C financing led by Thomas Tull’s US Innovative Technology. Founded by AI engineers, Lambda enables AI engineers to easily, securely and affordably build, test and deploy AI products at scale. The company will use this new financing to expand its AI cloud business, including Lambda’s popular on-demand and reserved cloud offerings.

In the announcement of the transaction, Lambda CEO and co-founder Stephen Balaban said, “AI is fundamentally restructuring science, commerce, and industry. Over the next 10 years, every human endeavor will be augmented by the integration of LLMs and generative AI. This AI rollout is going to require a lot of GPUs. This latest financing supports our mission to make GPU compute as ubiquitous as electricity.”

The Gunderson Dettmer deal team was led by Heidi Shortz Walas and included Gregory Kinzelman, Shawna Reeder, Anjuli Schlievert, Hannah Porter, Rose Wang and Yue Yang.