Key facts
- Data center developer Crusoe raised $3 billion in a new funding round.
- The company's valuation reached $30 billion following the funding round.
- Atreides Management and Valor Equity Partners co-led the investment.
- Mubadala Capital also participated in the round.
- Crusoe recently secured a $13 billion, five-year contract with Jane Street for GPUs and AI infrastructure.
- This funding round is a significant increase from the $1.38 billion raised at a $10 billion valuation 10 months ago.
Data center developer Crusoe has reportedly secured $3 billion in new funding, bringing its valuation to $30 billion. The round was co-led by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth fund.
This significant funding comes just 10 months after Crusoe raised $1.38 billion at a $10 billion valuation. The company has rapidly evolved from its origins in 2018 as a crypto mining operation powered by flared natural gas to become a major provider of AI infrastructure and cloud services.
Crusoe is known for developing hyperscale data center campuses for clients including Oracle and OpenAI. The company recently entered into a substantial five-year cloud contract valued at $13 billion with quantitative trading firm Jane Street, supplying it with GPUs and AI infrastructure.
Axios reported last month that Crusoe had met with investment bankers from Goldman Sachs and Morgan Stanley to explore the possibility of an initial public offering in the near future.