Crusoe has reportedly raised more than $3 billion in a new funding round that values the AI cloud computing and data center infrastructure company at approximately $30 billion. Bloomberg reported the financing based on people familiar with the matter.
Atreides Management and Valor Equity Partners co-led the financing, while Mubadala Capital also participated. The round has been finalized, according to Bloomberg’s sources, although Crusoe had not publicly announced the financing when the report was published.
The approximately $30 billion valuation is on a post-money basis, meaning it includes the new capital raised. The financing represents a substantial increase from Crusoe’s previous valuation.
In October 2025, Crusoe announced a $1.375 billion Series E round at a valuation above $10 billion. That financing was co-led by Valor Equity Partners and Mubadala Capital, with Atreides Management also participating, meaning all three investors named in the latest reported round were already Crusoe backers.
The new financing comes as Crusoe rapidly expands its position in AI infrastructure. The company provides cloud computing infrastructure and develops large-scale data centers for customers that include OpenAI, Microsoft, and Meta Platforms.
Crusoe also recently secured a roughly $13 billion, five-year cloud computing agreement with quantitative trading firm Jane Street. The contract calls for Crusoe to provide GPUs and AI infrastructure, and Bloomberg reported that the agreement helped generate additional investor interest in the latest financing.
Jane Street represents one of Crusoe’s most significant cloud customers as the company competes in the expanding market for specialized AI computing infrastructure. Crusoe also has agreements to supply AI computing capacity to companies including Meta and Oracle.
Crusoe was founded in 2018 and initially built its business around cryptocurrency mining powered partly through stranded and flared natural gas. The company has since shifted its focus toward vertically integrated AI infrastructure spanning energy sourcing, data center development, and cloud computing.
The company has increasingly positioned itself around the idea that access to energy and physical data center capacity will be major constraints on the continued expansion of artificial intelligence. Its vertically integrated strategy combines energy procurement, AI-optimized data center construction, and the Crusoe Cloud platform.
Crusoe said in June that it had contracts representing 4.9 gigawatts of computing power and a total project pipeline exceeding 40 gigawatts. The scale of that pipeline reflects the rapid buildout underway as technology companies seek additional power and compute capacity for training and operating increasingly demanding AI models.
The reported $30 billion valuation would nearly triple Crusoe’s valuation from its 2025 financing and further establish the company among the most highly valued privately held AI infrastructure businesses.
