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Nvidia-Backed Lambda Raises $4B, Valuation at $14.5B

Funding momentum stayed strong this week as companies in space manufacturing, AI compute, super intelligence platforms and financial tech infrastructure secured some of the largest private raises of the quarter.This week's private company news:Nvidia-backed cloud-computing company Lambda is raising up to $4B in a final round of fundraising before the company's planned initial public offering, The Wall Street Journal's Robbie Whelan, citing people familiar with the matter. The new funding will give the company a valuation of $14.5B, excluding the amount of the money raised.Moonshot AI has closed the final round of private fundraising at a valuation of about $50B and is heading toward an initial public offering in Hong Kong in the first quarter of next year, Bloomberg's Sangmi Cha, Cindy Wang, and Julia Fioretti, citing to people familiar with the matter. The Chinese AI champion has also begun laying the groundwork to start gauging investor sentiment through early-look meetings starting as early as this month, some of the people said.DeepSeek is close to securing at least 80 billion yuan, or $12B, in its latest round of funding, ahead of a major IPO in early 2027, Bloomberg. Contemporary Amperex Technology and WeChat-operator Tencent have committed among the largest amounts in the current financing, according to people familiar with the matter.Some of the biggest capital raises by private companies this week include:Varda Space– The in-space manufacturing startup has raised $250M in a Series D round at a $1.6B valuation. The round was led by Lux Capital and Natural Capital. Publicly-traded companies operating in the same space include Redwire, Sidus Space, and Rocket Lab.GMI Cloud– The AI-native cloud delivering high-performance GPU infrastructure and inference services announced $668M in new financing, comprising $223M in equity for Series B and a $445M credit facility led by CTBC. Publicly-traded companies operating in the same space include Nvidia, Oracle, and Microsoft.PaleBlueDot AI– The Silicon Valley-based Super Intelligence platform announced the completion of a $200M Series C financing led by ComputeCore at a valuation of $3.2B. Publicly-traded companies operating in the same space include Alphabet, IBM, and Snowflake.General Intuition –The company announced that it has raised $220M in funding at a $6.2B valuation. Publicly-traded companies operating in the same space include Palantirand ServiceNow.Valon Technologies– The AI-native operating system for regulated finance announced it has raised $150M in Series D funding at a $2.3B valuation, doubling its last valuation. Publicly-traded companies operating in the same space include Fiserv, FIS, and Intuit.Unicorns to watch this week:Eight Sleepcontinues to draw attention in the consumer tech and wellness space after reaching unicorn status earlier this year. The company's AI driven sleep hardware and biometric platform secured a $50M Series D in Q1 2026, cementing its position in the premium sleep optimization market. Publicly-traded peers include Tempur Sealy, Sleep Number, and Garmin.Cellaresremains a standout in advanced therapeutics manufacturing. The company crossed the unicorn threshold in early 2026 following its $257M Series D, which is helping accelerate adoption of automated cell therapy production systems. Publicly-traded comparables include Repligen, Thermo Fisher, and Danaher.Bedrock Roboticshas emerged as a major player in autonomous construction technology, now valued around $1.8B after a significant Series B raise. Its AI powered equipment systems continue to gain traction as automation reshapes industrial workflows. Publicly-traded companies in adjacent sectors include Caterpillar, Trimble, and Teradyne.Fundamentalis gaining momentum in the frontier model ecosystem. The company recently closed a $255M Series A to scale its foundational AI models designed for large scale data analysis. Publicly-traded peers include Microsoftand Meta.Gleanhas firmly entered the ultra unicorn tier, surpassing a $5B valuation as demand for enterprise AI search accelerates. Its platform continues to expand across knowledge heavy industries. Publicly-traded companies operating in similar areas include Elastic, Alphabet, and Microsoft.IPOs to watch:Anthropic– The company is now planning to hold its IPO in November, which is later than the October listing expected by investors, The Wall Street Journal's Corrie Driebusch, Anissa Gardizy, and Kate Clark, citing people familiar with the matter. The report states that a delayed listing would allow the company to share its Q3 results and show its strong competitive position. Anthropic also intends to meet with investors in the coming days, and the meetings are expected to help the company and its bankers gauge investor appetite for the offering, WSJ noted.Nscale Limited– The company has filed with the SEC for an initial public offering of its ordinary shares. The company intends to apply to list its ordinary shares on the New York Stock Exchange under the symbol "NSCL". Goldman Sachs, J.P. Morgan, Morgan Stanley are listed as the lead bookrunners.Altera Corporation– Altera announced that its parent company has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed public offering of its common stock. "The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed public offering remains subject to the completion of the SEC review process, as well as market and other conditions," Altera stated. Altera, which provides high-performance, programmable compute and connectivity solutions, is backed by Silver Lake and Intel.Brooks Automation– The company announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.CALM Chain– The company has filed for an initial public offering of 5M Class A ordinary shares, representing 24.39% of the company's total Class A ordinary shares issued and outstanding following completion of the offering. The company is offering, on a firm commitment basis, 5M Class A ordinary shares. Following the completion of the offering, 24.39% of the Class A ordinary shares issued and outstanding will be held by public shareholders, assuming the underwriter does not exercise the over-allotment option. The company expects the initial public offering price for the offering will be between $5.00 and $7.00 per Class A ordinary share and it plans to list its Class A shares on the Nasdaq Capital Market under the symbol "CCIL"."Private Markets" is The Fly's recurring series of stories on the latest moves in the private sector, largest unicorn companies and initial public offerings to watch. Fly subscribers, add $PRIVATE to your portfolio for alerts on breaking news in the startup and venture capital space.

NFL Extends Partnership with Intuit Through 2030

The National Football League and Intuit announced a four-year partnership extension through 2030. This renewal expands Intuit's official rights into four key international markets: Canada, the UK, Australia, and New Zealand. It also adds Credit Karma to the NFL portfolio alongside TurboTax, QuickBooks, and Mailchimp, bringing Intuit's full platform to more fans.