Crusoe raises $3.9B in Series F round, valuation hits $30.9B
Data center developer Crusoe has raised $3.9 billion in a Series F funding round that values the company at $30.9 billion. The investment was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from major investors including Nvidia, GIC, and Qatar Investment Authority (QIA). Crusoe plans to use the capital for existing data center projects like its Abilene, Texas site used by OpenAI, as well as new modular AI factories called Spark. These smaller centers can be deployed quickly without large construction crews. Crusoe's business model includes leasing space, renting GPUs, and selling compute power for AI inference. The company recently signed a $13 billion cloud contract with Jane Street and is reportedly in talks about an IPO with Goldman Sachs and Morgan Stanley. Crusoe has shifted from crypto mining to AI infrastructure since its 2018 founding.
Topics: AI Infrastructure Corporate Governance Data Centers Funding Rounds