Investment: “Crusoe raises $3 billion”
Crusoe, an AI-focused data center and cloud infrastructure provider, has raised $3 billion in a funding round led jointly by Atreides Management and Valor Equity Partners.
The round also included participation from Mubadala Capital.
Founded in 2018 by Chase Lochmiller and Cully Cavness, the US-based company develops AI-focused data centers and cloud infrastructure that host high-performance GPUs required to train and run AI models. Its data centers employ advanced cooling and high-speed networking technologies, and the company’s Crusoe Cloud platform enables customers to access GPU compute through the cloud rather than building their own facilities.
Crusoe differentiates itself with an energy-focused approach, building data centers in regions with access to large, low-cost energy and leveraging its prior experience using stranded natural gas at oil fields for Bitcoin mining. The company previously raised $1.38 billion in October of last year, and following the new round its valuation stands at $30 billion.
The company said it will use the new funding to expand its AI-focused data centers and cloud infrastructure to meet increasing demand for GPU and AI compute capacity.
