Few companies have ridden the AI infrastructure boom as hard as Crusoe, and the data center developer just banked its biggest payday yet. The company has raised $3B at a $30B valuation, Bloomberg reported, with Atreides Management and Valor Equity Partners co-leading the round and Abu Dhabi’s Mubadala Capital joining in.
Crusoe counts Meta, Microsoft and OpenAI among its customers and builds hyperscale data center campuses for clients such as Oracle. The fresh capital lands 10 months after its $1.38B round at a $10B valuation last October, and Bloomberg notes the company recently signed a five-year, $13B cloud contract to supply quant trading firm Jane Street with GPUs and AI infrastructure.
The raise adds firepower as Crusoe inches toward the public markets. The company met with Goldman Sachs and Morgan Stanley last month to discuss a potential near-term IPO, Axios reported. Crusoe launched in 2018 as a crypto mining operation powered by flared natural gas before pivoting into AI infrastructure and cloud services.
Private AI data center builders are absorbing enormous capital as cloud demand outpaces supply. Crusoe’s tripling valuation in under a year signals how much investors now prize owned power and land, not just GPU inventory, in the race to serve hyperscalers and model labs.
