"AI data center provider Lambda announced Tuesday it raised $1.5 billion in a round led by TWG Global, a relatively new $40 billion investment firm formed by billionaires Thomas Tull, the former owner of Legendary Entertainment, and Guggenheim Partners founder and CEO Mark Walter. TWG holds a variety of the billionaires' assets, including Walter's stakes in the Los Angeles Lakers and the new Cadillac F1 racing team. The firm also has a $15 billion fund to invest in AI anchored by Abu Dhabi's Mubadala Capital."
"TWG previously invested in a partnership with Elon Musk's xAI and Palantir to sell AI agents to enterprises. Now it's backing Lambda, which operates a number of U.S. AI data centers. Lambda is a CoreWeave competitor, although it also sells its so-called "AI factories" to hyperscaler clouds. Earlier this month, Lambda announced a multi-billion dollar deal to supply Microsoft with AI infrastructure using tens of thousands of Nvidia GPUs. (Nvidia is an investor in Lambda as well.)"
Lambda secured $1.5 billion in a funding round led by TWG Global, a $40 billion investment firm founded by Thomas Tull and Mark Walter. TWG manages diverse billionaire assets and runs a $15 billion AI fund anchored by Abu Dhabi's Mubadala Capital. TWG has prior investments with xAI and Palantir. Lambda operates multiple U.S. AI data centers, competes with CoreWeave, and sells "AI factories" to hyperscaler clouds. Lambda announced a multibillion-dollar deal to supply Microsoft with tens of thousands of Nvidia GPUs, and Nvidia is an investor in Lambda. Prior funding included a $480 million Series D in February at an estimated $2.5 billion valuation. Reports of a potential valuation north of $4 billion and an IPO surfaced, but Lambda declined to comment on valuation after the raise.
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