L

Lambda

Cloud-based GPU services for AI training

Controller

Full-TimeUpdated on 10/23/2026
$266k - $365k/yr+ 2% 401(k) match + Cash and equity compensation
Expert
San Francisco, CA, USA+1 moreMore locations: San Jose, CA, USA
HybridPresence in a San Jose or San Francisco office for a combined 4 days per week.
AccountingFinancial Accounting

About the job

Requirements
  • At least 15 years of progressive accounting experience, including public accounting and senior leadership in a high-growth technology company.
  • Experience operating in or preparing an organization for public-company standards.
  • Deep technical expertise in US GAAP, including revenue recognition, fixed assets, leases, and complex commercial arrangements.
  • Strong knowledge of internal controls and SOX compliance.
  • Proven ability to build and scale accounting teams in fast-moving environments.
  • CPA is required.
  • Strong executive presence and ability to communicate complex accounting topics clearly to cross-functional leaders.
Responsibilities
  • Lead all aspects of accounting operations, including general ledger, revenue recognition, fixed assets, and lease accounting.
  • Oversee a timely and accurate monthly, quarterly, and annual close process across multiple entities and product lines.
  • Lead the evolution of systems, automation, AI, and ERP optimization to improve accounting accuracy, efficiency, and scalability.
  • Design, implement, and continuously strengthen internal controls and accounting policies to support SOX compliance and long-term reporting scalability.
  • Partner with Legal, FP&A, Operations, Supply Chain, Treasury, and other cross-functional leaders to ensure accounting implications are considered in strategic decisions.
  • Establish and manage relationships with external auditors and help oversee annual audits and quarterly reviews.
  • Build, mentor, and develop a high-performing accounting team with a culture of accountability, operational excellence, and continuous improvement.
  • Serve as a strategic thought partner to the Chief Accounting Officer and executive leadership on accounting matters.
  • Partner with the Head of Technical Accounting and Financial Reporting and the Head of Tax, both of whom report to the Chief Accounting Officer.
Desired Qualifications
  • Big 4 background.
  • Experience in AI infrastructure, cloud computing, hardware, or other capital-intensive environments.
  • Experience with multi-entity and international operations.
  • ERP implementation or post-implementation optimization experience; NetSuite is preferred.
  • Experience partnering closely with Treasury and Capital Markets functions.

About the company

Lambda Labs provides cloud-based GPU services for AI training and inference. Its AI Developer Cloud runs on NVIDIA GH200 Grace Hopper hardware to train large language models and generative AI, offering on-demand and reserved GPUs billed by the hour (for example, $1.99/hour for H100). It differentiates itself through competitive pricing, high availability, and an integrated ML stack with Lambda Stack for easy installation of PyTorch, TensorFlow, CUDA, cuDNN, and NVIDIA drivers, plus Lambda Echelon for owning infrastructure with hosting and support. Its goal is to make scalable AI development and deployment affordable by providing flexible GPU access, reliable hosting, and streamlined software deployment for teams working with large models.

Company Size

501-1,000

Company Stage

Late Stage VC

Total Funding

$9.1B

Headquarters

San Jose, California

Founded

2012

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Simplify's Take

What believers are saying

  • October 1, 2026, Lambda closed $1 billion fixed-rate debt for contracted deployments.
  • August 31, 2026 Reuters reported Anthropic's $35 billion Lambda deal for Texas capacity.
  • May 2026 leadership changes installed Michel Combes and John Donovan for scale execution.

What critics are saying

  • Lambda's growth now depends on Nvidia chip allocation and pricing, tightening margins immediately.
  • October 1 financing secures three deployments; one canceled off-take strains highly levered infrastructure economics.
  • A failed hyperscale customer ramp, especially Anthropic, threatens refinancing and a pre-IPO exit.

What makes Lambda unique

  • Lambda pairs bare-metal GPU clouds with on-prem hardware and software, simplifying full-stack AI deployment.
  • At GTC 2026, Lambda announced early Vera Rubin NVL72 bare-metal instances for H2 2026.
  • Lambda runs production-scale infrastructure, including Quantum-X InfiniBand Photonics on 10,000-GPU GB300 clusters.

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Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • 401(k) Retirement Plan
  • 401(k) Company Match
  • Unlimited Paid Time Off
  • Wellness Program
  • Commuter Benefits

Growth & Insights and Company News

6 month growth

-1%

1 year growth

2%

2 year growth

0%
Yahoo Finance
Oct 22nd, 2026
Neoclouds explained: GPU providers behind the AI boom face a $3.5T impairment risk

Neoclouds, specialist providers that rent out GPU capacity for AI training and inference, have gone from unknown startups to listed companies with contracts worth billions of dollars. CoreWeave, Nebius and IREN lead the listed group; Lambda, Crusoe and Fluidstack remain private. Their shares fell hard in October 2026. CoreWeave dropped 29%, leaving it valued at about $34 billion against a 2025 peak of about $90 billion; Nebius fell 27% and IREN 32%. CoreWeave's unsecured debt yielded about 15%. On October 14, 2026, Gartner predicted that more than 80% of neocloud providers will stop operating independently by 2030. It also warned that more than $3.5 trillion of AI infrastructure spending could face impairment. Demand remains strong. CoreWeave co-founder Brannin McBee said nearly all of its 2027 capacity is sold.

The Wall Street Journal
Oct 6th, 2026
Exclusive | AI-Computing Startup Lambda Is Raising $4 Billion in Final Round Before Planned IPO

The Nvidia-backed company is targeting an IPO in 2027.

Yahoo Finance
Sep 1st, 2026
Anthropic signs $35B cloud deal with Nvidia-backed Lambda for Texas data centre

Anthropic has signed a $35 billion cloud-computing agreement with Nvidia-backed Lambda, the Wall Street Journal reported. The deal gives Anthropic access to computing capacity from a Texas data centre being developed by Hut 8, a Bitcoin miner turned data centre operator. Nvidia secured capacity at the facility, whilst Lambda will deploy Nvidia chips and provide computing resources to Anthropic. The arrangement's financial terms remain unclear. Anthropic's annualised revenue run rate reportedly reached $65 billion by end-July. The structure highlights Nvidia's expanding role beyond selling AI chips. Anthropic previously agreed to spend $45 billion over six years with another Nvidia-backed provider, Nscale. In April, Amazon announced Anthropic plans to spend over $100 billion on AWS technology over the next decade.

Associated Press
Aug 27th, 2026
Lambda closes $926M term loan B to fund GPU infrastructure for investment-grade customer

Lambda has closed a $926 million senior secured term loan B facility to fund GPU infrastructure for an investment-grade customer. The facility, priced at SOFR + 3.00% and issued at 99.5% of principal, received a Baa2 rating from Moody's. This marks Lambda's first large-scale private cloud GPU asset-backed financing and the first broadly syndicated, investment-grade-rated term loan B by a private neocloud. The facility matures on 31 December 2030 and is secured by the GPU servers and related infrastructure it funds. The closing follows Lambda's $1 billion senior secured credit facility announced in May 2026. Morgan Stanley acted as lead left arranger, bookrunner, and administrative agent, with MUFG serving as joint bookrunner.

The Next Web
Aug 25th, 2026
Lambda is raising up to $3bn before an IPO, months after borrowing $917m for chips

Nvidia-backed Lambda is in talks for up to $3bn in pre-IPO financing at a valuation of $12bn or more, ahead of a listing next year.