AI infrastructure company Crusoe has reportedly raised $3 billion in a new funding round at a $30 billion valuation, according to Bloomberg.
The round is being co-led by Atreides Management and Valour Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund.
The funding comes less than a year after Crusoe raised $1.38 billion at a $10 billion valuation. The company has also recently secured a major AI infrastructure contract, with Bloomberg reporting a five-year, roughly $13 billion cloud deal with quantitative trading firm Jane Street for GPUs and AI infrastructure.
Founded in 2018, Crusoe originally operated as a cryptocurrency mining company using flared natural gas. It has since shifted into AI infrastructure, developing large-scale data centres and cloud services for customers including Meta, Microsoft, OpenAI, and Oracle.
Crusoe has said its funding supports expansion of its AI infrastructure platform as demand for computing capacity continues to grow.
The company has also explored a potential public listing. Axios reported that Crusoe recently met with investment banks to discuss a possible IPO.
