Crusoe Raises $3B at $30B Valuation to Expand AI Infrastructure

Crusoe, a company specializing in AI and cloud infrastructure development, announced it has raised $3 billion in a new funding round. The deal was completed at a $30 billion valuation, more than triple the $10 billion valuation set in October of last year.

The round was led by investment firms Atreides Management and Valor Equity Partners, with Mubadala Capital—an asset management arm of Abu Dhabi’s sovereign fund Mubadala—also participating. These investments reflect strong market confidence in the future of AI infrastructure.

Founded in 2018 as a cryptocurrency mining startup leveraging flared gas, Crusoe has since pivoted to building hyperscale data centers for major tech firms, including Oracle and OpenAI. Recently, the company secured its largest-ever $13 billion contract with quantitative trading firm Jane Street, which includes the supply of GPUs and AI infrastructure over five years.

According to Axios, Crusoe is already in talks with investment banks like Goldman Sachs and Morgan Stanley about a potential IPO in the coming months. This move could further solidify its position in the rapidly growing high-performance computing market, driven by AI advancements.