Thirty-year capital markets veteran will serve as GPU cloud company’s first CFO
Lambda, the GPU cloud company founded by AI engineers, today announced the appointment of Peter Seibold as Chief Financial Officer (CFO). Seibold will oversee Lambda’s financial, strategy and business systems functions and serve as a member of senior executive leadership as the company builds a leading GPU cloud for AI, powered by NVIDIA GPUs.
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Peter Seibold, Chief Financial Officer (Photo: Business Wire)
“Building the best GPU cloud for AI means having a world class finance organization to lead the formation of capital to deploy tens of thousands of NVIDIA GPUs,” said Stephen Balaban, CEO and cofounder of Lambda. “Peter’s depth of experience in the global capital markets will be a valuable asset and I look forward to working with him as we expand our cloud.”
Seibold’s career spans over three decades of executive leadership experience across both private and public companies. Most recently, he served as CFO at SparkCognition, where he was responsible for the execution of the company's financial strategy, in addition to overseeing the finance, accounting, human resources, and operations functions. Prior to his time as an operator, Peter spent 30 years as an investment banker, he was a Managing Director at M. Klein and Company and previously held positions at Evercore and Goldman Sachs.
“Lambda is uniquely positioned and is at the center of a transformative AI-driven technology renaissance that will catapult humanity upwards. As the surge in AI model training and inference drives GPU demand, we have a tremendous opportunity to be the leader in this market segment,” said Seibold. “I’m excited to work with a world class leadership team to help execute our mission, and build a strong business by focusing on what AI developers need.”
Seibold’s appointment comes on the heels of Lambda securing a $500M special purpose GPU financing vehicle and its Series C funding round, in which the company raised $320 million and achieved a valuation of $1.5 billion. Additionally, Lambda recently surpassed over 10,000 customers who use its technology to build state of the art AI software.
About Lambda
Lambda was founded in 2012 by AI engineers with published research at the top machine learning conferences in the world. Our goal is to become the #1 AI compute platform serving developers across the entire AI development lifecycle. We enable AI engineers to easily, securely and affordably build, test and deploy AI products at scale. Our product portfolio spans from on-prem GPU hardware to hosted GPUs in the cloud. Lambda’s mission is to create a world where access to computation is as effortless and ubiquitous as electricity.
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