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 programs and build AI factories.
- Crusoe has over $140 billion in total contracted value and 6 gigawatts of contracted capacity.
AI infrastructure provider Crusoe announced on Thursday that it has secured $3.9 billion in a Series F funding round, valuing the company at $30.9 billion on a post-money basis. The surge in demand for computing power to support artificial intelligence workloads has fueled significant investment in the sector.
Launched in 2018 initially as a cryptocurrency business, Crusoe has since pivoted to building specialized AI cloud and data center services, positioning itself among emerging "neocloud" providers. The Series F round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from existing and new investors including Founders Fund, Nvidia, and QIA.
Crusoe intends to utilize the capital to expand its current programs and support the development of its own AI factories. The company reported having over $140 billion in total contracted value and more than 6 gigawatts of contracted capacity, with 1 gigawatt already operational.
This investment highlights the substantial capital flowing into the AI infrastructure space. In a separate development, Blackstone and Alphabet’s AI cloud venture, Crux AI, secured a $22 billion chip loan, complemented by an initial $5 billion equity investment from Blackstone. However, the rapid advancement of AI technology is also prompting concerns among industry executives regarding potential misuse.