According to Bloomberg, data center developer Crusoe has completed a new round of $3 billion funding, valuing the company at $30 billion. The company's client list includes Meta, Microsoft, and OpenAI.
This round of funding was led jointly by Atreides Management and Valor Equity Partners, with Mubadala Capital, a subsidiary of Abu Dhabi's sovereign wealth fund Mubadala, participating in the investment.
Valuation Tripled in 10 Months
This new funding comes just 10 months after Crusoe's previous round of financing — in October of last year, the company raised $1.38 billion at a valuation of $10 billion. The valuation has tripled in less than a year.
Crusoe was founded in 2018 as a cryptocurrency mining operation that used flared natural gas to generate electricity, and later transitioned into a large-scale AI infrastructure and cloud service provider, known for developing large-scale data center campuses for clients such as Oracle and OpenAI.
Recently Secured a $13 Billion Cloud Contract with Jane Street, Possibly Preparing for an IPO
At the same time as the funding announcement, Bloomberg reported that Crusoe recently signed a five-year cloud contract worth approximately $13 billion with quantitative trading firm Jane Street, providing GPU and AI infrastructure.
Additionally, Axios reported last month that Crusoe has met with investment banks such as Goldman Sachs and Morgan Stanley to discuss potential IPO plans.
