Cloud provider Lambda might follow rival CoreWeave to the public markets. According to reporting from The Information, Lambda, an AI infrastructure company offering on-demand GPUs, has hired bankers for an upcoming IPO. The company 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 from investors including Nvidia, Alumni Ventures, and Andra Capital, among others. It most recently raised $480 million in a Series D round this past February.
CoreWeave, Lambda’s biggest rival, went public in March of this year.