Crusoe is in talks with JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America about a possible public offering, Axios reported, citing sources.
This is an early stage; there is no bidding process for the mandate, target date, or offering size yet. Until now, a private round was considered the primary capital raising scenario: in July, Bloomberg reported talks for approximately $3 billion. However, the company now has two routes that are not mutually exclusive.
Electricity remains the current bottleneck. In March, Crusoe contracted 12 GWh of iron-air storage from Form Energy (another of our projects), with deliveries starting in 2027. Form Energy also raised $750 million in August for production expansion.
The capital Crusoe is seeking is driving the entire AI energy ecosystem.
Companies in this sector, including Form Energy itself, are available in our app.