How much money did Lambda raise in a new funding round?

(Reuters) - Lambda, an artificial intelligence computing firm, said on Thursday it has raised $320 million in a new funding round led by billionaire Thomas Tull's US Innovative Technology to expand its AI cloud business. Top technology companies are racing to build AI into their products and services.

What is Lambda's new equity financing?

The company will use this new equity financing to expand its AI cloud business, including Lambda’s popular on-demand and reserved cloud offerings. Founded in 2012, Lambda has over a decade of experience building AI infrastructure at scale and has amassed over 100,000 customer sign-ups on Lambda Cloud.

Does Lambda Labs stock go public?

Lambda Labs stock does not trade publicly on Nasdaq or NYSE because it is still a private company. Accredited investors are permitted to buy Lambda Labs stock pre-IPO. Private market transactions can be complex and often involve company approvals, legal purchase agreements and wires to third parties.