PRIVATE · San Jose, California

Lambda Labs

The deep learning company built by engineers, for engineers. From desktop GPU workstations to massive cloud clusters.

Founded 2012

By Stephen Balaban, Michael Balaban

Live Price

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Today

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Symbol

PRIVATE

2012

Facial recognition hardware and early deep learning workstations

Lambda Labs was founded in 2012 initially focused on facial recognition software. The founders quickly realized that AI researchers lacked pre-configured, high-performance hardware, leading Lambda to pivot toward building specialized GPU workstations and servers tailored specifically for PyTorch and TensorFlow.

2021

The shift to Lambda GPU Cloud

Recognizing the shift toward cloud-based model training, Lambda launched Lambda GPU Cloud. By offering hourly, no-friction access to Nvidia GPUs at a fraction of hyperscaler prices, Lambda became the default cloud choice for AI startups, academic institutions, and independent research labs worldwide.

2024

The $320M Series C and $1.5B valuation

In early 2024, Lambda secured a $320 million Series C funding round led by USIT (US Innovative Technology Fund) and backed by Thomas Tull, catapulting its valuation to $1.5 billion. The capital was used to procure tens of thousands of Nvidia H100 and H200 GPUs to build enterprise-scale 10,000+ GPU supercomputing clusters.

2026

The essential developer backbone of the AI ecosystem

By August 2026, Lambda Cloud hosted over 100,000 AI researchers and engineering teams. Positioned as the most developer-friendly neocloud in existence, Lambda maintained industry-leading GPU utilization rates while expanding its enterprise cluster offerings to rival legacy cloud providers.

The Numbers

market cap Private (~$1.5B Valuation)

revenue $250M (FY2025)

net income Profitable operating cash flows on hardware sales and cloud instances

employees 320

ipo year Private

ipo price Private

current ceo Stephen Balaban

revenue forecast $480M (2026 internal target)

Who Owns Lambda Labs

Stephen Balaban & Co-Founders

Founders retain major ownership and technical direction

~32.0%

US Innovative Technology Fund (USIT)

Lead Series C institutional investor

~20.0%

Mercato Partners & GV (Google Ventures)

Early growth venture investors

~18.0%

Private Float & Employee Equity

Allocated for technical talent and secondary pools

~30.0%

Frequently Asked Questions

Who founded Lambda Labs?

Lambda Labs was founded by Stephen Balaban, Michael Balaban.

When was Lambda Labs founded?

Lambda Labs was founded in 2012.

Where was Lambda Labs founded?

Lambda Labs was headquartered in San Jose, California.

Why was Lambda Labs created?

What does Lambda Labs do?

The deep learning company built by engineers, for engineers. From desktop GPU workstations to massive cloud clusters. Lambda Labs is the $1.5B developer-favorite AI cloud built for deep learning. Read the full story of Lambda, its GPU workstations, and its massive AI cloud expansion.

How did Lambda Labs grow?

Who owns Lambda Labs?

Stephen Balaban & Co-Founders owns ~32.0%. US Innovative Technology Fund (USIT) owns ~20.0%. Mercato Partners & GV (Google Ventures) owns ~18.0%. Private Float & Employee Equity owns ~30.0% (Founders retain major ownership and technical direction)

How much of Lambda Labs does Stephen Balaban & Co-Founders own?

Stephen Balaban & Co-Founders owns ~32.0% (Founders retain major ownership and technical direction)

When did Lambda Labs go public?

Lambda Labs had its IPO in Private, with an initial share price of Private.

How many employees does Lambda Labs have?

Lambda Labs has approximately 320 employees.

What is Lambda Labs's revenue?

Lambda Labs generated $250M (FY2025) in revenue. Analysts forecast $480M (2026 internal target).

What is Lambda Labs's market cap?

Lambda Labs has a market capitalisation of Private (~$1.5B Valuation).

Who is the CEO of Lambda Labs?

The current CEO of Lambda Labs is Stephen Balaban.

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