Crusoe Raises $3.9 Billion in Series F Funding at $30.9 Billion Valuation

AI infrastructure startup Crusoe has completed a $3.9 billion Series F funding round at a post-money valuation of about $30.9 billion. According to Odaily, the round was co-led by Atreides Management, Valor Equity Partners, and Mubadala Investment, with participation from Founders Fund, TPG, and Qatar Investment Authority. Founded in 2018, Crusoe initially served cryptocurrency miners before shifting to AI compute infrastructure. The company spent two years building a large AI data center in Abilene, Texas, for OpenAI and Microsoft, and is now moving toward producing compact data centers called Spark that can be loaded onto trucks and deployed to sites with unused power to meet AI inference demand more quickly.