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← Signal: Tech & AI

Crusoe raises $3B at $30B valuation in latest funding round

Confirmed1 source · Sep 4, 2026

The AI infrastructure company, backed by major tech firms and Abu Dhabi's sovereign wealth fund, more than triples its valuation in 10 months.

Crusoe raises $3B at $30B valuation in latest funding round
Image via TechCrunch

What happened

Crusoe, a data center developer serving Meta, Microsoft, and OpenAI, raised $3 billion in new funding at a $30 billion valuation, according to Bloomberg reporting. The round is 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. This follows a $1.38 billion raise at a $10 billion valuation in October 2023. Crusoe also recently signed a $13 billion, five-year cloud services contract with quantitative trading firm Jane Street to supply GPUs and AI infrastructure. The company has reportedly met with Goldman Sachs and Morgan Stanley about pursuing an IPO in the near term.

Context

Crusoe's valuation has grown threefold in less than a year, reflecting investor appetite for AI infrastructure providers amid the sector's rapid expansion. The company's evolution from a 2018 crypto mining operation using flared natural gas to a major cloud and AI infrastructure provider for enterprise clients and trading firms signals a broader market shift toward hyperscale data center capacity. Jane Street's $13 billion commitment underscores the scale of demand for GPU and AI infrastructure from major institutional players. The consideration of an IPO suggests Crusoe and its backers view the company as mature enough for public markets despite its recent reorientation.