Key facts
- AI infrastructure provider Crusoe raised $3.9 billion in a Series F funding round.
- The company's post-money valuation reached $30.9 billion.
- The funding round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners.
- Nvidia and Founders Fund were among the investors.
- Crusoe will use the funds to expand AI factories and data center projects.
- Crusoe has over $140 billion in total contracted value and 6 gigawatts of contracted capacity.
AI infrastructure provider Crusoe announced Thursday it raised $3.9 billion in a Series F funding round, reaching a post-money valuation of $30.9 billion. The round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from investors including Founders Fund, Nvidia, and Qatar Investment Authority.
Crusoe plans to use the capital to finance existing data center projects, including a large site in Abilene, Texas, and to develop smaller, modular AI factories called Spark that can be transported by truck. The company also announced three new board members: Cloudflare CFO Thomas Seifert, Primary Digital Infrastructure partner and CIO Bill Stein, and Redwood Materials founder and CEO JB Straubel.
The company's business model involves leasing data center space, renting out its own GPUs, and selling compute power for AI model inference. Crusoe recently signed a $13 billion, five-year cloud contract with Jane Street. The company was founded in 2018 as a crypto mining operation and pivoted to AI infrastructure as demand for computing power increased.