Crusoe, known as “the AI factory company,” announced the initial close of its $1.375 billion Series E funding round, valuing the company at over $10 billion. The oversubscribed round was co-led by Mubadala Capital and Valor Equity Partners, with participation from a broad group of investors including NVIDIA, Founders Fund, Fidelity Management & Research Company, T. Rowe Price, Tiger Global Management, Salesforce Ventures, Franklin Templeton, Lowercarbon Capital, and StepStone Group. Additional participation from funds managed by Blue Owl is expected in a subsequent closing.
Headquartered in San Francisco and Denver, Crusoe has emerged as a leader in vertically integrated AI infrastructure—spanning rapid energy sourcing, data center design and construction, and a high-performance AI cloud platform. The company’s vertically integrated model allows it to deliver gigawatt-scale AI data centers faster and more efficiently than traditional approaches, which are often fragmented across separate entities for power, real estate, and cloud services.
Crusoe’s cloud platform, Crusoe Cloud, provides AI developers with a secure, high-performance environment that simplifies infrastructure management and accelerates innovation. The platform offers 99.98% uptime and is used by leading AI organizations, including Cursor, Decart, Fireworks, Odyssey, and Together AI. The recent acquisition of Atero, a GPU management and memory optimization specialist, further enhances Crusoe Cloud’s capabilities for managed AI services.
The company has achieved record growth throughout 2025, fueled by rapid expansion in energy sourcing, cloud operations, and data center development. Its 1.2-gigawatt AI data center campus in Abilene, Texas, went live just one year after construction began, demonstrating Crusoe’s ability to deploy at unprecedented speed and scale. Additional gigawatt-scale campuses are under development across the U.S., including a new 1.8-gigawatt facility in Wyoming.
Crusoe’s energy portfolio has expanded more than fourfold this year, reaching over 45 gigawatts. The company has established key partnerships with Tallgrass, Redwood Materials, and Lancium to support its growth. Meanwhile, bookings for Crusoe Cloud grew fivefold in the first three quarters of 2025, reflecting surging demand for high-performance AI infrastructure.
In line with its strategic focus on AI, Crusoe divested its Bitcoin mining business to NYDIG earlier this year to concentrate fully on its AI platform. The company is also expanding internationally, with additional cloud capacity coming online in Norway and Iceland, and new offices in Dublin, Sunnyvale, and Tel Aviv to support its global footprint.
KEY QUOTES:
“Advances in AI will usher in an era of AI driven abundance, leading to new scientific breakthroughs and unprecedented economic growth and human prosperity. However, the pace of progress is constrained by bottlenecks in energy and compute. Crusoe is in the business of activating energy for intelligence and helping the greatest innovators of our generation build the future faster. Today’s Series E enables Crusoe to rapidly expand our vertically integrated approach to delivering AI factories at the speed and scale needed to meet the ambitions of our customers. Crusoe is uniquely positioned to deliver both the physical infrastructure needed for an AI factory, including power and data centers, as well as the high performance software required to operate an AI factory and produce intelligence efficiently at scale through Crusoe Cloud.”
Chase Lochmiller, CEO and Co-Founder, Crusoe
