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Lambda, an AI data center provider, announced on Tuesday that it has raised $1.5 billion in a round led by TWG Global, an… A relatively new investment firm valued at $40 billion It was founded by billionaire Thomas Tulle, former owner of Legendary Entertainment, and Guggenheim Partners founder and CEO Mark Walter.
TWG owns a variety of billionaire assets, including Walter’s stakes in the Los Angeles Lakers and the new Cadillac F1 racing team. The company also has a $15 billion fund to invest in artificial intelligence Abu Dhabi Mubadala Capital. TWG previously invested in a partnership with Elon Musk xAI and Palantir sell AI clients to enterprises.
Now it supports Lambda, which runs a number of US AI data centers. Lambda is a competitor to CoreWeave, though it also sells its own “AI factories” to hyperscale clouds. Earlier this month, Lambda announced… Multi-billion dollar deal To provide Microsoft with its AI infrastructure using tens of thousands of Nvidia GPUs. (Nvidia is Investor in Lambda as well.)
Remember, Microsoft made a similar deal with and bought CoreWeave from them $1 billion in services of the company in 2024, its largest customer last year by a mile. Then OpenAI swooped in and signed A $12 billion deal with CoreWeave in March.
Meanwhile, deal watchers have been talking for months about Lambda seeking to raise hundreds of millions of dollars With a valuation north of $4 billion. There was also talk about IPO. Before that, Lambda raised a $480 million Series D in February, with an estimated valuation of $2.5 billion, according to PitchBook.
Lambda’s $1.5 billion raise far exceeds those earlier whispers of what it was seeking. We can’t confirm whether its value has also risen, and Lambda declined to comment on that.