According to a report by Bloomberg, data center developer Crusoe has secured a $3 billion funding round, valuing the company at $30 billion. The round is co-led by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund. Crusoe, which counts Meta, Microsoft, and OpenAI among its customers, recently inked a significant $13 billion, five-year cloud contract to provide GPUs and AI infrastructure to quantitative trading firm Jane Street 1.
This latest funding round follows Crusoe’s $1.38 billion raise in October 2022, which valued the company at $10 billion. Founded in 2018 as a crypto mining operation utilizing flared natural gas, Crusoe has since transitioned into a prominent AI infrastructure and cloud provider, known for developing hyperscale data center campuses for clients such as Oracle and OpenAI. The company has also been in discussions with investment banks, including Goldman Sachs and Morgan Stanley, regarding a potential initial public offering (IPO) in the near future, as reported by Axios 1.