Crusoe Raises $3B at $30B Valuation for AI Infrastructure Expansion
· Technology · TechCrunch
Data center developer Crusoe has raised a $3 billion funding round at a $30 billion valuation, led by Atreides Management and Valor Equity Partners with participation from Mubadala Capital. The round comes 10 months after the company secured $1.38 billion at a $10 billion valuation last October. Crusoe recently signed a $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure. Launched in 2018 as a crypto mining operation powered by flared natural gas, the company has pivoted to developing hyperscale data center campuses for clients including Meta, Microsoft, Oracle, and OpenAI. The firm recently held discussions with investment bankers from Goldman Sachs and Morgan Stanley regarding a potential near-term IPO.
Why it matters
This massive funding round accelerates the rapid build-out of high-performance AI infrastructure for major tech firms and cloud providers amid surging global demand for computing power.
Read the original report — TechCrunch
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