Crusoe reportedly raises $3B at a $30B valuation
The round came together after the data center developer reportedly secured a $13 billion contract with Jane Street.
Crusoe, a data center developer servicing major tech giants like Meta, Microsoft, and OpenAI, has announced a $3 billion fundraising round, securing a $30 billion valuation, according to Bloomberg. The deal is being co-led by Atreides Management and Valor Equity Partners, with additional involvement from Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund.
This significant investment follows Crusoe's recent $13 billion, five-year cloud contract with quantitative trading firm Jane Street, reported by Bloomberg.
The new funding round comes ten months after Crusoe's $1.38 billion investment round in October 2022, which valued the company at $10 billion. Crusoe was initially established in 2018 as a crypto mining operation utilizing flared natural gas but has since transitioned into a prominent player in AI infrastructure and cloud solutions. The company is renowned for constructing hyperscale data center campuses for clients such as Oracle and OpenAI.
Crusoe has reportedly met with investment banks, including Goldman Sachs and Morgan Stanley, to discuss a potential IPO in the near future, as previously reported by Axios.
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