Crusoe Triples Valuation to $30 Billion in Massive $3 Billion Raise
Crusoe, a data center developer whose customers include Meta, Microsoft, and OpenAI, has raised $3 billion at a $30 billion valuation, according to Bloomberg. Atreides Management and Valor Equity Partners co-lead the round, with participation from Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth fund.
The raise lands just ten months after Crusoe secured $1.38 billion at a $10 billion valuation last October, tripling its worth in under a year. The company recently signs a $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure, underscoring the surging demand for its services.
Founded in 2018 as a crypto mining operation powered by flared natural gas, Crusoe pivots into a major AI infrastructure and cloud provider, best known for building hyperscale data center campuses for clients like Oracle and OpenAI. The company recently meets with Goldman Sachs and Morgan Stanley to discuss a potential near-term IPO, Axios reports.