
What happened
Crusoe raised a $3 billion Series F, and Fluidstack raised $1.5 billion, leading a week of mostly AI infrastructure megadeals. Gimlet Labs raised $300 million for its AI inference cloud.
Why it matters
These deals show investors are pouring huge sums into the physical backbone of AI—data centers and cloud capacity—as demand for compute power soars. Crusoe now serves OpenAI, Microsoft, and Meta, and its valuation tripled in under a year to $30 billion.
What to watch
Crusoe’s $30 billion valuation hinges on whether its AI cloud demand from OpenAI, Microsoft, and Meta holds, while Fluidstack’s $18 billion mark tests Jane Street Capital’s backing. Watch for whether Gimlet Labs’ $300 million round closes with Arm Holdings and Microsoft’s M12 as signals of chip-cloud integration.
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