Cloud provider Lambda may be gearing up for an IPO

Cloud provider Lambda might be following rival CoreWeave to the public markets.

Lambda, an AI infrastructure company offering on-demand GPUs, has hired bankers for an upcoming IPO, according to reporting from The Information. Lambda has reportedly hired Morgan Stanley, J.P. Morgan, and Citi for a public listing that could happen as early as the first half of 2026.

Lambda did not respond to a request for comment.

The company has raised more than $1.7 billion in funding, according to Crunchbase data, from investors including Nvidia, Alumni Ventures, and Andra Capital, among others. It most recently raised $480 million in a Series D round in February.

CoreWeave, Lambda’s biggest rival, went public in March of this year.