Data center developer Crusoe has reportedly raised a new $3 billion round at a $30 billion valuation, according to Bloomberg. The round is being co-led by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund.
The funding comes just 10 months after Crusoe raised $1.38 billion at a $10 billion valuation last October, and follows the company’s recent signing of a roughly $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure, according to Bloomberg.
Founded in 2018 as a crypto mining operation powered by flared natural gas, Crusoe has since transformed into a major AI infrastructure and cloud provider, best known for building hyperscale data center campuses for clients including Meta, Microsoft, OpenAI, and Oracle.
The company has also recently met with investment bankers, including Goldman Sachs and Morgan Stanley, to discuss a potential near-term IPO, according to a separate Axios report.
