Crusoe Energy raised a $3.9 billion Series F follow-on round that values the eight-year-old data center developer at $30.9 billion. The round was co-led by Atreides Management, Mubadala Capital and Valor Equity Partners, with participation from Founders Fund, GIC, Nvidia, Qatar Investment Authority, Radical Ventures and TPG, and the company counts OpenAI as a customer at its large Abilene, Texas site. Proceeds will finance existing data center projects including Abilene and scale its in-house manufactured, truck-transportable modular "AI factories" called Spark, designed for rapid deployment without large construction workforces and to help sidestep community backlash to massive complexes.