Crusoe raises ~$3bn, valuation could hit $30bn

What happened

Crusoe, a US AI infrastructure and cloud compute company, is in discussions to secure approximately $3bn in new funding. If completed at the reported valuation, the round could value the company at around $30bn, potentially tripling its previous value from just over $10bn after its Series E round last year.

Why it matters

Major tech firms are investing heavily in data centre infrastructure to support generative AI applications. Crusoe already supplies AI computing capacity to Meta Platforms and Oracle, and last month signed new agreements with Meta to expand AI resources. The funding underscores how central specialized AI infrastructure providers have become to tech companies' growth plans.

What to watch

Crusoe has secured contracts for 4.9GW of AI infrastructure, with its total development pipeline exceeding 40GW. In May 2025, it began the second phase of a $15bn joint venture to develop a 1.2GW AI data centre in Abilene, Texas with Blue Owl Capital and Primary Digital Infrastructure. Final terms for the new funding round remain under discussion.