The tech company Lambda, specializing in AI infrastructure, has beefed up its coffers with a hefty $320 million Series C funding. US Innovative Technology Fund (USIT) led the fundraising charge, with a posse of new and returning investors, including B Capital, SK Telecom, and T. Rowe Price Associates, Inc., also getting in on the action, according to a recent announcement on the company's blog.
Lambda, with ambitions to quickly build out and champion their GPU cloud geared for artificial intelligence, intends to principally leverage the fresh capital to expand the platform's capabilities. Tony Wang of T. Rowe Price Associates, one of the backers that bet big on Lambda in this latest funding round, said, "We look forward to partnering with Lambda as an innovative accelerated computing infrastructure provider tailored for the future of AI." He expects the company's strong vision to make it the go-to platform for machine learning engineers.
Since its inception in 2017, when the academic AI community was its main patron, Lambda has kept pace with rapidly evolving tech. The introduction of transformer architectures, key to large language models like GPT-4, marked the beginning for Lambda. Now, they're watching enterprises big and small race to embed generative AI into their wares, all while startups are seeing their balances swing from nil to millions, thanks to building their wares upon the Lambda Cloud.
Lambda's Chief Operating Officer and Head of Cloud, Mitesh Agrawal, spoke to the ambition and drive that has characterized the company’s trajectory, expressing pride in the growth over the past six years and anticipation for what's to come. "We’ve accomplished a lot, but what lies on the horizon for us and our customers is even bigger. We can’t wait to see what you and your team build with Lambda Cloud and Lambda Hardware," he said in a statement on the company's blog. Indeed, for those seeking to join the ranks at Lambda, the invitation is clear - the company continues to scout for talented individuals ready to tackle the challenges at the crossroads of AI, cloud infrastructure, and high-performance computing.
