From TechCrunch · Marina Temkin · · 1 min
Crusoe Triples Valuation to $30B in AI Infrastructure Surge
Data center developer Crusoe raises $3 billion as demand for AI computing power explodes.
In brief
Data center developer Crusoe raises $3 billion as demand for AI computing power explodes. Crusoe's pivot from crypto mining to hyperscale AI infrastructure has turned it into a $30 billion giant poised for an IPO. Originally reported by TechCrunch.
Crusoe hits $30 billion valuation
Data center developer Crusoe has reportedly raised $3 billion in new funding, tripling its valuation to $30 billion in just ten months.
“Data center developer Crusoe, which counts Meta, Microsoft, and OpenAI as its customers, has raised a new $3 billion round at a $30 billion valuation”
Backed by major global investors
Atreides Management and Valor Equity Partners co-led the mega-round, alongside Abu Dhabi's sovereign wealth fund subsidiary Mubadala Capital.
A $13 billion trading deal
Crusoe recently signed a massive five-year contract worth $13 billion to supply quantitative trading firm Jane Street with GPUs and AI infrastructure.
Pivot from crypto to AI cloud
Founded in 2018 using flared natural gas for crypto mining, Crusoe pivoted into building hyperscale data center campuses for OpenAI, Meta, and Microsoft.
Gearing up for an IPO
The company recently met with Wall Street banks like Goldman Sachs and Morgan Stanley to discuss a potential public market debut in the near term.
What it means
Crusoe's pivot from crypto mining to hyperscale AI infrastructure has turned it into a $30 billion giant poised for an IPO.
