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Crusoe Closes $3.9B to Expand AI Infrastructure

Crusoe raised $3.9B Series F led by Atreides Management, Mubadala Capital, and Valor Equity Partners to scale its AI data centers and cloud services.

By Raina Gimmel

Crusoe raises $3.9B

The big picture: Denver, Colo.-based Crusoe has closed the initial portion of a $3.9 billion Series F financing at a $30.9 billion post-money valuation in an oversubscribed round. The funding will fuel the company’s expansion in AI infrastructure.

Why it matters:

  • Addressing compute shortage: Crusoe provides critical infrastructure for AI workloads, including power resources and data centers, at a time when hyperscale cloud providers and tech companies are committing billions to AI computing.
  • Rapid deployment: Its modular Crusoe Spark data centers are manufactured in the U.S. and designed for deployment in weeks, allowing the company to quickly match capacity expansion to customer needs.
  • Strategic partnerships: Crusoe supports major AI players like OpenAI, Cognition, Figure, and Perplexity, demonstrating its crucial role in the rapidly growing AI ecosystem.

How it works:

  • Integrated infrastructure: Crusoe controls the entire stack ‘from electrons to tokens,’ managing power resources, building data centers optimized for AI workloads, and operating its Crusoe Cloud.
  • Crusoe Cloud: The platform provides computing and inference services, reporting over $100 million in contracted annual recurring revenue for inference since its launch late last year.
  • Scalable data centers: The company’s U.S.-manufactured modular data centers enable efficient and rapid scaling of capacity, directly supporting the needs of AI builders.

The catch: The AI infrastructure market is intensely competitive, with major hyperscale cloud providers and specialized data center operators also aggressively expanding. Crusoe must maintain its differentiation in rapid deployment and integrated power solutions to navigate this crowded landscape and secure long-term resources.

Key Facts

  • Company: Crusoe
  • Amount: $3.9B
  • Round: Series F
  • Investors: Atreides Management and Mubadala Capital and Valor Equity Partners (co-lead), Founders Fund, GIC, Nvidia, Qatar Investment Authority
  • Founders: Chase Lochmiller, Cully Cavness
  • Valuation: $30,900,000,000
  • Sector: AI Infrastructure
  • Headquarters: Denver, Colorado, US

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