Lambda revenue and valuation
Specter estimates Lambda's annual revenue at $320M to $1.25B and its valuation at $12.1B to $17.4B. The company last reported $520M revenue in December 2025 and was priced at $2.5B in February 2025.
- Estimated revenue
- $320M–$1.25B
- Estimated valuation
- $12.1B–$17.4B
- Reported revenue
- $520M
- Total funding
- $6.08B
- Founded
- 2012
- Headquarters
- San Francisco, United States
- Employees
- 816
Lambda revenue
Lambda last reported $520M revenue in December 2025. Specter's model puts current revenue between $320M and $1.25B.
Monthly data
| Month | Specter estimate | Low | High | Reported revenue |
|---|---|---|---|---|
| $630M | $320M | $1.25B | ||
| $620M | $330M | $1.16B | ||
| $590M | $340M | $1.02B | ||
| $540M | $340M | $870M | ||
| $530M | $330M | $840M | ||
| $540M | $350M | $840M | ||
| $520M | $360M | $750M | ||
| $530M | $390M | $730M | ||
| $520M | $400M | $690M | ||
| $520M | $410M | $650M | ||
| $520M | $430M | $630M | $520M | |
| $520M | $420M | $640M | ||
| $440M | $220M | $650M | ||
| $300M | $74M | $530M | ||
| $410M | $160M | $670M | ||
| $360M | $144M | $580M | ||
| $360M | $146M | $570M | ||
| $350M | $127M | $570M | ||
| $270M | $53M | $490M | ||
| $340M | $78M | $600M | ||
| $310M | $68M | $540M | ||
| $310M | $63M | $560M | ||
| $310M | $63M | $560M | ||
| $310M | $62M | $550M | ||
| $310M | $62M | $550M | ||
| $310M | $56M | $550M | ||
| $310M | $67M | $560M | ||
| $270M | $65M | $470M | ||
| $220M | $58M | $370M |
| Date | Reported revenue | Source |
|---|---|---|
| $520M |
Lambda valuation
Lambda's valuation rose from $1.5B at its Series C in February 2024 to $2.5B at its Series D in February 2025. Specter's live estimate sits between $12.1B and $17.4B.
Monthly data
| Month | Specter estimate | Low | High | Reported valuation |
|---|---|---|---|---|
| $14.5B | $12.1B | $17.4B | $14.5B (round) | |
| $14.5B | $12.1B | $17.4B | $14.5B (press) | |
| $13.1B | $10.4B | $16.6B | ||
| $11.9B | $9.18B | $15.4B | ||
| $10.8B | $8.09B | $14.3B | ||
| $9.76B | $7.45B | $12.8B | ||
| $8.84B | $7.06B | $11.1B | ||
| $8B | $6.28B | $10.2B | ||
| $7.25B | $5.93B | $8.86B | ||
| $6.56B | $5.43B | $7.94B | ||
| $5.95B | $4.77B | $7.41B | ||
| $5.38B | $4.6B | $6.31B | ||
| $4.88B | $3.9B | $6.1B | ||
| $4.42B | $3.57B | $5.46B | ||
| $4B | $3.33B | $4.81B | $4B (press) | |
| $3.7B | $2.65B | $5.16B | ||
| $3.42B | $2.5B | $4.68B | ||
| $3.16B | $2.43B | $4.11B | ||
| $2.92B | $2.33B | $3.67B | ||
| $2.7B | $2.2B | $3.33B | ||
| $2.5B | $2.08B | $3.01B | $2.5B (round) | |
| $2.4B | $1.66B | $3.46B | ||
| $2.3B | $1.69B | $3.12B | ||
| $2.2B | $1.69B | $2.87B | ||
| $2.11B | $1.38B | $3.21B | ||
| $2.02B | $1.41B | $2.9B | ||
| $1.94B | $1.4B | $2.67B | ||
| $1.86B | $1.54B | $2.24B | ||
| $1.78B | $1.47B | $2.15B |
Lambda funding rounds
| Date | Round | Raised | Post-money valuation | Lead investors |
|---|---|---|---|---|
| Debt financing | $1.01B | Undisclosed | Undisclosed | |
| Secondary | Undisclosed | Undisclosed | Undisclosed | |
| Debt financing | $926M | Undisclosed | Undisclosed | |
| Debt financing | $1B | Undisclosed | JP Morgan | |
| Series E | $1.5B | Undisclosed | TWG Global | |
| Debt financing | $275M | Undisclosed | JP Morgan | |
| Series D | $480M | $2.5B | SGW, Andra Capital, Alumni Ventures | |
| Secondary | Undisclosed | Undisclosed | Undisclosed | |
| Debt financing | $500M | Undisclosed | Macquarie Group | |
| Series C | $320M | $1.5B | US Innovative Technology Fund | |
| Series B | $44M | Undisclosed | Mercato Partners | |
| Series A | $15M | Undisclosed | Undisclosed | |
| Debt financing | $9.5M | Undisclosed | Silicon Valley Bank | |
| Seed | $4M | Undisclosed | Gradient | |
| Pre-Seed | Undisclosed | Undisclosed | Undisclosed |
Lambda competitors
The GPU cloud market is divided between proprietary data center operators and distributed compute marketplaces.
| Company | Revenue | Valuation |
|---|---|---|
| $320M–$1.25B | $12.1B–$17.4B | |
| $12.2B–$18.9B | $49.9B–$136B | |
| $2.38B–$4.35B | $580M–$890M | |
| $310M–$670M | $13.7B–$19.8B | |
| $163M–$940M | $15B–$21.6B |
Lambda revenue and valuation FAQ
What is Lambda's revenue?
Specter estimates Lambda's annual revenue at $320M to $1.25B as of October 2026. Lambda last reported $520M revenue in December 2025.
What is Lambda's valuation?
Lambda's latest post-money valuation is $2.5B, from a February 2025 Series D. Specter's live estimate is $12.1B to $17.4B.
What is Lambda's revenue multiple?
Lambda is valued at about 4.8× revenue, based on its $2.5B February 2025 valuation and $520M last reported revenue. That works out to roughly $637K of revenue per employee.
How much funding has Lambda raised?
$6.08B across 15 rounds, from a Pre-Seed in December 2017 to a $1.01B debt financing in October 2026.
Who invested in Lambda?
57 investors, including Alumni Ventures, Andra Capital, JP Morgan, Macquarie Group, SGW and TWG Global.
Who are Lambda's competitors?
CoreWeave, Nebius, Nscale and Fluidstack. Specter ranks 30 competitors for Lambda.