英伟达扶持的云服务商Lambda融资3.5亿美元，拟今年IPO

Core Insights - Lambda, a cloud service startup supported by Nvidia, is negotiating to raise at least $350 million to bolster its capital reserves ahead of an IPO planned for later this year, highlighting ongoing investor interest in AI infrastructure [1][2] - Mubadala Capital, a UAE sovereign wealth fund, is reportedly in talks to lead this funding round, which is structured as convertible notes offering new investors a 20% discount on shares at the IPO price [1][3] - The financing terms impose a clear timeline pressure on Lambda, as failure to go public within a year could result in significant compensation to investors, reflecting the capital market's focus on the timing of AI startups' public offerings [1][3] Financial Performance - Lambda has achieved over $520 million in revenue for the year ending September 2025, with a reported 80% year-over-year sales growth in the third quarter, despite incurring a net loss of approximately $175 million during this period [4] - The company is in a "burning cash" expansion phase, competing directly with major tech firms like Amazon Web Services, Microsoft, and Google [4] Strategic Relationships - Nvidia plays a dual role as both a major investor and customer for Lambda, having committed to lease 10,000 AI chips over four years for $1.3 billion, along with an additional $200 million lease for 8,000 chips [5] - Microsoft has also entered into a multi-billion dollar server leasing agreement with Lambda, indicating strong backing from key industry players [5] Market Comparisons - Lambda's valuation in the public market may be influenced by its competitor CoreWeave, which went public in March 2025 and has seen its stock price rise over 90% from its initial offering, although it has experienced significant volatility recently [6][7] - CoreWeave's valuation has halved since October due to investor concerns over its substantial debt and delays in data center projects, suggesting that Lambda's upcoming financing and IPO performance will largely depend on investor sentiment towards high-growth, asset-heavy AI infrastructure companies [7]