Nvidia (NVDA) backed cloud provider Lambda plans to raise at least $350 million in pre-initial public offering funding round, The Information reported Friday, citing an unnamed source.

Mubadala Capital is in talks to lead the round at a 20% discount to the IPO price, the report added.

Lambda plans an IPO in H2 2026, slightly delayed from earlier timelines, according to the report.

The deal is structured as convertible notes and would force Lambda to pay additional equity or cash interests if it doesn't go public within one year, the report said.

Nvidia, Lambda, and Mubadala Capital didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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