From TechCrunch · Marina Temkin · · 1m 50s
Crusoe raises $3.9B for AI data centers
The AI infrastructure company lands a massive funding round to build giant facilities and portable modular data centers.
In brief
The AI infrastructure company lands a massive funding round to build giant facilities and portable modular data centers. Crusoe is using its $3.9 billion Series F to scale both traditional large data centers and innovative portable AI factories that can be deployed anywhere with power. Originally reported by…
Crusoe lands $3.9B mega round
The AI data center company raised $3.9 billion in Series F funding, pushing its valuation to $30.9 billion. The round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners.
Star investors and board members
Founders Fund, GIC, Nvidia, Qatar Investment Authority, Radical Ventures, and TPG also participated. New board members include Cloudflare CFO Thomas Seifert and Tesla board member JB Straubel.
Building massive and modular
Crusoe will use the capital to expand large data centers like its Abilene, Texas facility used by OpenAI, plus deploy smaller modular AI factories called Spark that can be transported by truck.
Three revenue streams
Crusoe makes money by leasing data center space, renting GPUs, and selling compute power for running AI models. The company recently signed a $13 billion five-year contract with trading firm Jane Street.
From crypto to AI pivot
Founded in 2018 as a crypto mining operation powered by flared natural gas, Crusoe pivoted to AI infrastructure as demand for computing power exploded. Customers now include Meta, Microsoft, and Oracle.
IPO on the horizon
Crusoe recently met with investment bankers including Goldman Sachs and Morgan Stanley to discuss a potential IPO in the near future, according to reporting from Axios.
CEO's vision for abundance
Co-founder and CEO Chase Lochmiller said AI will usher in an era of abundance, but requires controlling infrastructure from electrons to tokens. The company aims to be the backbone of AI deployment.
“controlling the infrastructure from electrons to tokens”
The one thing
Crusoe is using its $3.9 billion Series F to scale both traditional large data centers and innovative portable AI factories that can be deployed anywhere with power.
