AI infrastructure provider Crusoe valued at $30.9 billion in latest funding round

AI infrastructure provider Crusoe said on Thursday it has raised $3.9 billion at a post-money valuation of $30.9 billion, as demand for computing capacity to power AI workloads continues to surge.

Launched in 2018 as a cryptocurrency business, Crusoe later pivoted ​to building AI infrastructure and is among the ​upcoming "neoclouds" that provide specialised AI cloud and data ⁠center services.

The Series F round was co-led by Atreides Management, Mubadala Capital and Valor Equity Partners, alongside significant backing from new and existing investors including Founders Fund, Nvidia and QIA, among others.


Crusoe will use the proceeds to expand its existing programs and support the build-out of its own AI factories.

Highlighting the scale of investment flowing into the sector, Blackstone and Alphabet's AI cloud venture Crux AI secured a $22 billion chip loan, alongside an initial $5 billion equity investment from Blackstone.

The rapid pace of AI development is also raising concerns, with top industry executives calling for slower advances amid mounting fears the technology could be misused.

Denver, Colorado-based Crusoe said it has more than $140 billion in total contracted value and over 6 gigawatts of contracted capacity, with 1 GW already operational.