Crusoe has raised over $3 billion at a valuation of approximately $30 billion, Bloomberg reported. The round is led by Atreides Management and Valor Equity Partners, with Mubadala Capital among the participants.
Ten months ago, at its Series E, Crusoe was valued at just over $10 billion, with a $1.375 billion round. Valor led that round, and Mubadala participated in both: both investors returned at a valuation three times higher.
Shortly before the deal, Crusoe signed a five-year agreement with Jane Street for approximately $13 billion for GPU clusters and training and inference infrastructure via its cloud. Bloomberg attributes investor interest in the round to this contract.
Jane Street is a quantitative trading house and Crusoe's largest cloud client to date. Previously, AI labs and hyperscalers were the ones buying this kind of computing power; now, financial markets are also paying for the capacity.
The company is accumulating capacity to meet this demand in advance. As of June, it had 4.9 GW of contracted AI infrastructure and over 40 GW of projects in development. A 1.2 GW campus in Abilene is being operated by Oracle, and a second 900 MW facility is under construction nearby for Microsoft.
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