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

Crusoe, a data center developer and AI infrastructure provider, has reportedly raised a new $3 billion round at a $30 billion valuation. TechCrunch says the company counts Meta, Microsoft, and OpenAI among its customers. The round is being co-led by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital.

The fundraising reportedly came after Crusoe signed a roughly $13 billion, five-year cloud contract with Jane Street. Under that deal, Crusoe is expected to supply the quantitative trading firm with GPUs and AI infrastructure. The size and duration of the contract underscore how demand for AI compute is shaping major financing rounds in the data center market.

The new round follows Crusoe’s $1.38 billion raise at a $10 billion valuation last October. If the reported valuation is confirmed, it would mark a sharp increase in the company’s value in a 10-month span. For readers tracking AI infrastructure, the takeaway is clear: capital is continuing to flow toward companies that can build and supply large-scale compute capacity.

Crusoe launched in 2018 as a crypto mining operation powered by flared natural gas. It has since pivoted into AI infrastructure and cloud services, including hyperscale data center campuses for clients such as Oracle and OpenAI. The company also recently met with investment bankers, including Goldman Sachs and Morgan Stanley, to discuss a potential near-term IPO, according to TechCrunch’s cited reporting.