Crusoe AI Funding: $1.375B to Build AI Factories

Crusoe, the company aiming to build the infrastructure backbone for the AI boom, has secured a massive $1.375 billion Series E funding round, valuing the company at over $10 billion.

The round was co-led by technology investors Valor Equity Partners and Mubadala Capital.

The round had participation from 137 Ventures, 1789 Capital, Activate Capital, Altimeter Capital, Atreides Management, BAM Elevate, DPR Construction, Ora Global, Fidelity Management & Research Company, Founders Fund, Franklin Templeton, Galvanize, Long Journey Ventures, Lowercarbon Capital, M37 Management, MCJ, NVIDIA, Radical Ventures, Ribbit Capital, Salesforce Ventures, Saquon Barkley, Spark Capital, StepStone Group, Supermicro, T. Rowe Price, Tiger Global Management, Upper90, Winklevoss Capital, and Zigg Capital.

In addition, funds managed by Blue Owl are expected to join in a later closing.

Crusoe has achieved a year of record growth by executing a vertically integrated strategy exclusively focused on AI infrastructure, a move solidified by the divestment of its Bitcoin mining business.

Key achievements include:

• Massive Energy & Infrastructure Scale: The company's energy portfolio grew over 4x to 45 gigawatts. It is actively developing multiple gigawatt-scale data center campuses, including a 1.2 GW site in Texas and a newly announced 1.8 GW campus in Wyoming.
• Rapid Cloud Adoption: Crusoe Cloud bookings surged 5x, supported by collaborations with NVIDIA and a new strategic partnership with AMD. The platform's excellence was recognized with a "Gold" designation from Semianalysis.
• Global Expansion: The company has expanded its footprint with new cloud capacity in Norway and Iceland, and opened new support offices in Ireland, California, and Israel.

Crusoe defines itself as "the AI factory company," aiming to provide a reliable, cost-effective, and environmentally friendly AI infrastructure solution by powering its data centers with large-scale clean energy.