Data center developer Crusoe raises $3.9 billion in Series F round
Eight-year-old data center developer Crusoe has closed a massive funding round that brings its valuation to $30.9 billion.
Data center developer Crusoe announced that it has raised $3.9 billion in a Series F round, bringing the company's valuation to $30.9 billion.
Details of the Funding Round
According to an announcement made by Crusoe on Thursday, the Series F financing round, which brought the company's valuation to $30.9 billion, was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners.
Participating Funds and New Board Members
Major funds such as Founders Fund, GIC, Nvidia, Qatar Investment Authority, Radical Ventures, and TPG participated in the massive investment round. The company also announced the addition of three new members to its board of directors.
Texas Project and Spark Factories
The fresh capital will be used to finance the large facility used by OpenAI in Abilene, Texas, as well as modular AI factories called Spark, which can be transported by truck and connected to small power sources.
Company History and Transformation Process
Founded in 2018 as a cryptocurrency mining startup powered by fuel gas, the company decided to focus on the infrastructure space as demand for artificial intelligence computing power increased.