Crusoe raises $3.9B to build massive data centers and small modular “AI factories”

Crusoe raised $3.9 billion in a Series F round, valuing the company at $30.9 billion. Three new board members joined: Cloudflare CFO Thomas Seifert, Primary Digital Infrastructure partner Bill Stein, and Redwood Materials founder JB Straubel. The capital will fund existing data-center projects, including an OpenAI site in Abilene, Texas, and modular “Spark” AI factories that can be truck-transported and quickly deployed. Crusoe’s revenue streams include leasing space to GPU-owning customers, renting its own GPUs, and selling AI inference compute. It recently secured a $13 billion, five-year contract with Jane Street.