Cold starts occur when a Lambda function is invoked for the first time or after a period of inactivity, introducing a delay before execution.
Cold starts can happen during initial invocations, infrequent invocations, function updates, high traffic spikes, and long periods of inactivity.
Cold starts impact performance by increasing latency, reducing throughput, and affecting user experience.
Strategies to mitigate cold starts include provisioned concurrency, optimizing function code, using warm-up functions, and considering function architecture.