Crusoe secures $3 billion funding, boosting valuation to $30 billion
Data-center developer Crusoe raised a $3 billion round, lifting its valuation to $30 billion after landing a $13 billion cloud contract with Jane Street.
Crusoe, a developer of hyperscale data-center campuses, announced a new financing round of $3 billion that pushes its valuation to $30 billion. The round was co-led by Atreides Management and Valor Equity Partners, with Mubadala Capital also taking part. The capital infusion follows a massive $13 billion, five-year cloud contract in which Crusoe will supply GPUs and AI infrastructure to quantitative trading firm Jane Street.
Since its 2018 launch as a crypto-mining operation powered by flared natural gas, Crusoe has pivoted to serve high-profile AI customers including Meta, Microsoft, OpenAI, Oracle, and others. The latest raise follows a $1.38 billion round last October that valued the company at $10 billion. Recent meetings with investment banks such as Goldman Sachs and Morgan Stanley suggest the firm is exploring an IPO in the near future.
Why it matters
The funding underscores growing demand for AI-focused data-center capacity and positions Crusoe as a key infrastructure player.
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