AI data center developer Crusoe completed a $3 billion financing round with a valuation of $30 billion

According to TechCrunch, AI data center developer Crusoe has completed a $3 billion financing round, achieving a valuation of $30 billion, led jointly by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, a subsidiary of the Abu Dhabi sovereign wealth fund.

Crusoe's clients include Meta, Microsoft, and OpenAI, and it recently signed a five-year, $13 billion GPU and AI infrastructure cloud contract with quantitative trading giant Jane Street. This financing comes just 10 months after raising $1.38 billion at a $10 billion valuation last October. Founded in 2018, Crusoe initially utilized stranded natural gas for Bitcoin mining and later transformed into an AI infrastructure and cloud service provider, known for developing ultra-large-scale data center campuses. Axios reported last month that Crusoe has met with investment banks such as Goldman Sachs and Morgan Stanley to discuss a potential IPO in the near future.