Crusoe Completes $3.9B F-Round Funding at $30.9B Valuation

According to Mars Finance, citing The Wall Street Journal, AI compute infrastructure startup Crusoe has completed a $3.9 billion Series F funding round, bringing its post-money valuation to approximately $30.9 billion. The round was co-led by Atreides Management, Valor Equity Partners, and Mubadala Investment Company, with participation from Founders Fund, TPG, and the Qatar Investment Authority (QIA). Founded in 2018, Crusoe initially served cryptocurrency miners before shifting focus to AI compute infrastructure. The company spent two years building a large AI data center in Abilene, Texas, to provide computing power for OpenAI and Microsoft. Crusoe is now transitioning to producing compact data centers called “Spark,” which are prefabricated modules loaded onto trucks and deployed at locations with excess electricity to rapidly meet growing AI inference demands.