Crusoe raises $3.9 billion in Series F funding at a $30.9 billion valuation
Data center developer Crusoe announced it has raised $3.9 billion in a Series F round, valuing the company at $30.9 billion. The financing was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from major investors including Nvidia, Qatar Investment Authority (QIA), TPG, and others. Crusoe plans to use the funds for existing data center projects like its facility in Abilene, Texas used by OpenAI, as well as new modular AI factories called Spark that can be deployed rapidly without large construction efforts. Crusoe's business model includes leasing space with customer GPUs, renting out its own GPU infrastructure, and selling compute power for AI inference. The company recently signed a $13 billion cloud contract to supply Jane Street with AI infrastructure over five years. Crusoe is also reportedly in discussions about an IPO with investment banks like Goldman Sachs and Morgan Stanley. The funding comes just 10 months after the firm raised $1.38 billion at a $10 billion valuation, reflecting rapid growth since its founding as a crypto mining company powered by flared natural gas.
Topics: AI_factories Crusoe data_centers Series_F_round