Data center developer Crusoe reportedly raises $3B at a $30B valuation
AI infrastructure company Crusoe has closed a new $3 billion funding round valuing it at $30 billion, Bloomberg reports. The company recently also signed a $13 billion, five-year cloud deal with trading firm Jane Street.
Data center developer Crusoe, whose customers include Meta, Microsoft, and OpenAI, has closed a new funding round of $3 billion at a $30 billion valuation, according to a Bloomberg report citing sources familiar with the matter.
The round is being co-led by investment firms Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth fund Mubadala.
Jane Street deal
Crusoe recently signed a large five-year cloud contract worth $13 billion with quantitative trading firm Jane Street, under which it will supply GPUs and other AI infrastructure.
The new funding round comes just ten months after Crusoe's previous raise, when the company secured $1.38 billion at a $10 billion valuation last October — meaning its valuation has roughly tripled since then.
From crypto mining to AI infrastructure
Crusoe was launched in 2018 as a crypto mining operation powered by flared natural gas. Since then, the company has pivoted into AI infrastructure and cloud services, becoming known for developing hyperscale data center campuses for clients such as Oracle and OpenAI.
Last month, Axios reported that Crusoe had met with investment banks, including Goldman Sachs and Morgan Stanley, to discuss a potential initial public offering in the near term.
