Crusoe Closes $600M Late-Stage Funding for AI-Focused Data Centers

Crusoe Energy Systems LLC, a startup building data centers for artificial intelligence workloads, has raised $600 million in Series D funding round to accelerate its deployment of physical infrastructure. The funding was led by Founders Fund, with participation from Fidelity, Long Journey Ventures, Mubadala, NVIDIA, Ribbit Capital, and Valor Equity Partners.

The investment, which values the company at $2.8 billion, will help bolster its efforts in expanding its AI infrastructure, including data centers and its Crusoe Cloud platform, a “high-performance” platform designed for AI and machine learning workloads.

“We believe a new approach is needed to power the AI revolution,” said Chase Lochmiller, Crusoe CEO and co-founder. “To reduce complexity, accelerate time-to-value, and support the most demanding AI solutions, customers need a vertically integrated approach.”

The company said it has over 15 gigawatts in development, including building a data center in Abilene, TX, with planned capacity of 1.2 gigawatts. That project, announced in October, is part of a $3.4 billion joint venture with Blue Owl Capital and Primary Digital Infrastructure.

San Francisco-based Crusoe said that in the past year the company has expanded collaborations with technology companies including Nvidia, Vast Data Inc., Deloitte and Rescale Inc. The company’s customer count has grown seven-fold in the past 12 months and the company now operates in nine states and three countries.