AI data center developer Crusoe has raised $3 billion in new funding at a $30 billion valuation, according to a Bloomberg report published in September 2026. The round was co-led by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund Mubadala.
The fundraise follows a significant commercial milestone: Crusoe recently signed a $13 billion, five-year cloud contract with quantitative trading firm Jane Street to supply GPUs and AI infrastructure. That deal appears to have been a key catalyst for attracting the new capital.
The latest round marks a sharp increase from Crusoe’s previous raise just ten months earlier, when the company secured $1.38 billion at a $10 billion valuation in October 2025 — meaning its valuation has tripled in under a year.
Founded in 2018 as a cryptocurrency mining operation using flared natural gas as a power source, Crusoe has since shifted its focus to AI infrastructure and cloud services. The company develops hyperscale data center campuses and counts Meta, Microsoft, OpenAI, and Oracle among its customers.
Looking ahead, Crusoe may be moving toward a public offering. Axios reported last month that the company met with investment bankers from Goldman Sachs and Morgan Stanley to discuss a potential near-term IPO, though no formal announcement has been made.
Source: TechCrunch