Crusoe reportedly raises $3B at a $30B valuation

Crusoe, a data-center developer for Meta, Microsoft, OpenAI and others, raised $3 billion at a $30 billion valuation, with Atreides Management and Valor Equity Partners co-leading and Mubadala Capital participating. The round follows a $13 billion, five-year cloud contract with Jane Street and occurs a year after a $1.38 billion raise at a $10 billion valuation. Founded in 2018 as a crypto-mining operation using flared natural gas, Crusoe now builds hyperscale AI infrastructure for clients such as Oracle and OpenAI and is preparing for an imminent IPO.