Crusoe Raises $3 Billion at $30 Billion Valuation as AI Infrastructure Demand Surges
Updated
Updated · TechCrunch · Sep 4
Crusoe Raises $3 Billion at $30 Billion Valuation as AI Infrastructure Demand Surges
3 articles · Updated · TechCrunch · Sep 4
Summary
$3 billion in new funding values Crusoe at $30 billion, with Atreides Management and Valor Equity Partners co-leading the round and Mubadala Capital also participating.
The raise follows Crusoe’s recent $13 billion, five-year cloud contract with Jane Street to supply GPUs and AI infrastructure, underscoring the demand driving its expansion.
Crusoe’s valuation has tripled in 10 months from $10 billion, after a $1.38 billion round last October.
Founded in 2018 as a crypto miner using flared natural gas, Crusoe has pivoted into an AI cloud and data-center builder serving customers including Meta, Microsoft, OpenAI and Oracle.
Axios reported last month that Crusoe had met Goldman Sachs and Morgan Stanley to discuss a potential near-term IPO, suggesting the latest round could set up a public listing.