Crusoe is Building the AI Factory of the World

Crusoe, the AI infrastructure company led by Chase Lochmiller, Cully Cavness, Matthew DeNezza, Nitin Perumbeti, Chris Dolan, Tara Green, and others, has announced the initial closing of its anticipated $1.375 billion Series E round, bringing the company's expected valuation to over $10 billion. The oversubscribed round was co-led by technology investors Valor Equity Partners and Mubadala Capital, with participation from 137 Ventures, 1789 Capital, Activate Capital, Altimeter Capital, Atreides Management, BAM Elevate, DPR Construction, Ora Global, Fidelity Management & Research Company, Founders Fund, Franklin Templeton, Galvanize, Long Journey Ventures, Lowercarbon Capital, M37 Management, MCJ, NVIDIA, Radical Ventures, Ribbit Capital, Salesforce Ventures, Saquon Barkley, Spark Capital, StepStone Group, Supermicro, T. Rowe Price, Tiger Global Management, Upper90, Winklevoss Capital, and Zigg Capital. In addition, funds managed by Blue Owl are expected to join in a later closing. 

Crusoe has become a global leader in AI infrastructure through its vertically integrated model, spanning rapid energy sourcing, AI-optimized data center design, and a high-performance AI cloud platform.

Crusoe Cloud enables AI teams to innovate without the burden of managing complex infrastructure, offering a performant, secure, and reliable environment with 99.98% uptime and enterprise-grade support. Trusted by leading AI innovators, including Cursor, Decart, Fireworks, Odyssey, and Together AI, the platform accelerates development and deployment for customers worldwide.

With the recent acquisition of Atero for GPU management and memory optimization, Crusoe is further strengthening its managed AI services and advancing the performance frontier of AI infrastructure.

Crusoe’s vertically integrated model allows the company to develop gigawatt-scale AI data center campuses with unprecedented speed and efficiency. Unlike traditional, fragmented approaches that separate power, real estate, construction, and cloud services, Crusoe’s unified model eliminates bottlenecks and aligns every stage of deployment. The first phase of its 1.2-gigawatt Abilene, Texas campus went live just one year after breaking ground, demonstrating the scalability and execution power of its approach.

AI is entering an era of abundance, but progress is limited by bottlenecks in energy and compute. Crusoe is solving this by activating energy for intelligence, building end-to-end infrastructure that powers large-scale AI factories. The new Series E funding will accelerate Crusoe’s expansion, enabling faster deployment of its vertically integrated model to meet the growing demands of AI innovators.

Crusoe’s integrated model fueled a year of record growth. Its power pipeline expanded 4x to over 45 GW, Crusoe Cloud bookings grew 5x through NVIDIA and AMD collaborations, and the company advanced major AI data center campuses in Texas and Wyoming. With new capacity in Norway and Iceland and offices in Dublin, Sunnyvale, and Tel Aviv, Crusoe also sharpened its focus on AI infrastructure by divesting its Bitcoin business to NYDIG.