Nvidia-backed Lambda seeks funding at a $12B+ valuation

Nvidia-backed AI cloud company Lambda is reportedly in talks to raise as much as $3B at a valuation above $12B ahead of a potential IPO next year.
The fundraising shows how much private capital is still chasing AI infrastructure despite growing debate around valuations and capex intensity.
Lambda sits inside the neocloud trade, where specialized providers build GPU-heavy infrastructure for AI workloads outside the traditional hyperscalers.
For $NVDA, continued neocloud expansion creates another source of demand for accelerators and AI infrastructure.