Lambda, a San Jose-based AI compute platform, secured up to $500M in special purpose GPU financing.

Macquarie Group led the financing, with Industrial Development Funding participating. This follows Lambda’s $320M Series C in February 2024.

The funds will expand Lambda’s on-demand GPU cloud services, enhancing AI development capabilities. The financing supports the deployment of NVIDIA GPUs for AI model training, fine-tuning, and inference in Lambda Cloud.

Founded in 2012, Lambda serves over 100,000 customers with advanced AI compute solutions, from on-prem hardware to cloud services. The company also integrates NVIDIA AI Enterprise to support generative AI developers.