Crusoe reportedly raises $3B at a $30B valuation | TechCrunch

Data center developer Crusoe has secured a substantial new funding round of $3 billion, elevating the firm's valuation to $30 billion.

This investment is co-led by Atreides Management and Valor Equity Partners, with additional participation from Abu Dhabi’s sovereign wealth fund subsidiary Mubadala Capital. The massive capital influx follows a major commercial milestone for the firm: a recently secured five-year, $13 billion cloud services contract to supply high-performance graphics processing units and artificial intelligence infrastructure to the quantitative trading company Jane Street.

Originally established in 2018 as a cryptocurrency mining business utilizing excess flared natural gas, Crusoe has successfully transitioned into a key player in the artificial intelligence infrastructure market. The company now builds and operates hyperscale data center facilities catering to major technology enterprises such as Meta, Microsoft, and OpenAI. This new capital injection comes less than a year after a prior $1.38 billion funding round, reflecting rapid growth. Additionally, reports indicate that Crusoe has held preliminary discussions with major investment banks regarding a potential public market debut in the near future.