Crusoe: Pre-IPO Round at Up to $40B — a 4x Increase in Under 6 Months
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Crusoe: Pre-IPO Round at Up to $40B — a 4x Increase in Under 6 Months

According to Axios, Crusoe is in talks for a new pre-IPO round targeting a $30–40B valuation. In October 2025, the company closed its Series E at $10B — implying a potential 4x step-up in less than half a year. This round could be the last before an IPO, expected as early as late 2026.

🔹 Recognition Alongside Google and NVIDIA Fast Company named Crusoe one of the World's Most Innovative Companies of 2026 — #3 in the Computing category. For a private infrastructure company, this is a strong external signal: Crusoe is perceived not as just another data center operator, but as a next-generation architectural player.

🔹 The Model: Turnkey "AI Factory" Crusoe is building a vertically integrated platform — power generation, modular infrastructure manufacturing, data center construction, and AI Cloud — all within a single stack. It is precisely this reimagining of AI infrastructure architecture that earned the company Fast Company's recognition.

🔹 Scaling: 7x on the Same Energy System Alongside the funding news, Crusoe announced an expansion of its partnership with Redwood Materials: the Nevada project will grow from 4 to 24 Crusoe Spark modular data centers. Over 7 months of operation, the 12 MW / 63 MWh microgrid powered by repurposed EV batteries delivered 99.2% availability; Crusoe Cloud achieved 99.9%.

🔹 Key Metrics — Revenue: projected at $2B in 2026, $3.6B in 2027 — Energy pipeline: over 45 GW — Flagship campus in Abilene, Texas: 1.2 GW, up to 400,000 NVIDIA GB200 GPUs — Total funding raised to date: over $4B

⚡️ In the next phase of AI, the bottleneck is no longer just GPUs — it is energy, sites, and speed of capacity deployment. Crusoe sells the ability to assemble the entire stack, from power generation to cloud, and deploy it in months rather than years. The potential valuation jump from $10B to $40B reflects how dramatically the market has repriced the scarcity of turnkey, energy-intensive AI infrastructure.

Sources: Axios Pro, Crusoe Newsroom, Crusoe × Redwood