Alternatives to Lambda
Lambda in the SAVRN Index: 24 MW at 2 named sites, no disclosed site capital, 7 GPU prices tracked. Below, every other neocloud and GPU provider the Index tracks, ranked on the same figures.
Lambda has layered a $320 million Series C, a $500 million GPU-backed SPV facility led by Macquarie, a $480 million Series D, a Series E of more than $1.5 billion, and debt facilities including a $926 million term loan B, a $1 billion syndicated facility and a $275 million facility, with a $350 million pre-IPO round reportedly in talks ahead of a targeted H2 2026 IPO.
Every alternative, ranked by disclosed capacity
| # | Provider | Category | H100, listlowest published $/GPU-hour | B200, listlowest published $/GPU-hour | GPUs priced | Named sitesCapital Atlas | Disclosed capacity | Disclosed site capital | Listing |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Crusoe Energy | NeoCloud | $3.90 | 3 | 4 | 4,900 MW | $15.0B | Private | |
| 2 | IREN | NeoCloud | 2 | 2,750 MW | NASDAQ:IREN | ||||
| 3 | Poolside | NeoCloud | 1 | 2,000 MW | Private | ||||
| 4 | Fluidstack | NeoCloud | 3 | 1,668 MW | $4.0B | Private | |||
| 5 | Applied Digital | NeoCloud | 5 | 1,540 MW | $22.8B | NASDAQ:APLD | |||
| 6 | Nebius Group | NeoCloud | $3.85 | $7.15 | 4 | 4 | 1,500 MW | NASDAQ:NBIS | |
| 7 | Cipher Digital Inc. | NeoCloud | 3 | 1,368 MW | $2.0B | NASDAQ:CIFR | |||
| 8 | Sesterce | NeoCloud | 3 | 1,000 MW | Private | ||||
| 9 | Core Scientific | NeoCloud | 6 | 982 MW | $1.2B | NASDAQ:CORZ | |||
| 10 | Bitdeer Technologies Group | NeoCloud | 2 | 784 MW | NASDAQ:BTDR | ||||
| 11 | TeraWulf | NeoCloud | 3 | 761 MW | $3.2B | NASDAQ:WULF | |||
| 12 | Nscale | NeoCloud | 2 | 700 MW | Private | ||||
| 13 | Hut 8 Corp. | NeoCloud | 1 | 352 MW | NASDAQ:HUT | ||||
| 14 | Galaxy Digital Inc. | NeoCloud | 2 | 334 MW | NASDAQ:GLXY | ||||
| 15 | CoreWeave | NeoCloud | $4.25 | $8.60 | 6 | 4 | 326 MW | $3.4B | NASDAQ:CRWV |
| 16 | Vultr | NeoCloud | $2.30 | $3.50 | 5 | 1 | 50 MW | $1.0B | Private |
| 17 | Voltage Park | NeoCloud | $1.99 | 1 | 6 | Private | |||
| 18 | Cerebras Systems | NeoCloud | 6 | NASDAQ:CBRS | |||||
| 19 | Groq | NeoCloud | 1 | $1.5B | Private | ||||
| 20 | Verda | GPU cloud | $3.56 | $6.85 | 5 | Private | |||
| 21 | TheAI Cloud | GPU cloud | 3 | Private | |||||
| 22 | DigitalOcean | GPU cloud | $4.41 | 7 | NYSE:DOCN | ||||
| 23 | Massed Compute | GPU cloud | $2.73 | $5.43 | 4 | Private | |||
| 24 | Astra Intellectus | GPU cloud | 4 | Private | |||||
| 25 | Runpod | GPU cloud | $2.89 | $6.79 | 4 | Private | |||
| 26 | Together AI | NeoCloud | $3.99 | $8.19 | 3 | Private | |||
| 27 | Cirrascale | GPU cloud | $2.49 | 4 | Private | ||||
| 28 | Fireworks AI (dedicated) | GPU cloud | $8.00 | $13.00 | 5 | Private | |||
| 29 | GMI Cloud | GPU cloud | $2.00 | $4.00 | 4 | Private | |||
| 30 | Hyperbolic | GPU cloud | $3.19 | $5.99 | 3 | Private | |||
| 31 | Baseten | GPU cloud | $6.50 | $9.98 | 2 | Private | |||
| 32 | Denvr Dataworks | GPU cloud | $2.45 | 1 | Private | ||||
| 33 | Corvex, Inc. | NeoCloud | NASDAQ:MOVE | ||||||
| 34 | Dell | GPU cloud | NYSE:DELL | ||||||
| 35 | HPE | GPU cloud | NYSE:HPE | ||||||
| 36 | Lightning AI | GPU cloud | Private | ||||||
| 37 | SambaNova Systems | NeoCloud | Private | ||||||
| 38 | TensorWave | GPU cloud | Private | ||||||
| 39 | Vast.ai (marketplace medians) | GPU cloud | Private |
What are the alternatives to Lambda?
The SAVRN Index classes 39 other companies as neoclouds or GPU providers: Crusoe Energy, IREN, Poolside, Fluidstack, Applied Digital, Nebius Group, Cipher Digital Inc., Sesterce, Core Scientific, Bitdeer Technologies Group and others. The table ranks them by disclosed capacity.
Which alternatives are larger than Lambda?
16 have more capacity disclosed at named sites than Lambda's 24 MW: Crusoe Energy (4,900 MW), IREN (2,750 MW), Poolside (2,000 MW), Fluidstack (1,668 MW), Applied Digital (1,540 MW), Nebius Group (1,500 MW).
Which alternatives publish a lower H100 price than Lambda?
Lambda lists H100 capacity at $3.29 per GPU-hour; 8 providers publish a lower list price: Vultr ($2.30), Voltage Park ($1.99), Massed Compute ($2.73), Runpod ($2.89), Cirrascale ($2.49), GMI Cloud ($2.00).
Is SAVRN an alternative to Lambda?
For a customer that wants capacity it controls rather than capacity it rents, yes: SAVRN delivers single-tenant AI factory blocks on their own power behind the customer's boundary. SAVRN is not a GPU-hour cloud, so it is not ranked in the table; its controlled AI environment is described on the sovereign compute page.
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.