US AI infrastructure company Crusoe has raised more than $3B at a roughly $30B post-money valuation, with Mubadala Capital participating in the round, Bloomberg reported, citing people familiar with the matter.
Atreides Management and Valor Equity Partners co-led the financing. The specific size of Mubadala Capital’s investment was not disclosed.
The new valuation is more than double Crusoe’s level in its previous round 10 months ago. The company recently signed a five-year, approximately $13B cloud agreement with Jane Street to provide GPUs and computing capacity. It also supplies Meta, Microsoft and Oracle.
Crusoe said in June that it had contracts covering 4.9 gigawatts of computing power and a project pipeline exceeding 40 gigawatts. The company is also developing a Texas site for OpenAI and Oracle’s Stargate project, with Microsoft leasing an expansion of the campus.
Mubadala Capital first backed Crusoe in its $350M Series C in 2022 and has participated in every round since, including the $1.375B Series E co-led with Valor last October.
Crusoe has also held discussions with major banks about a potential IPO, though no timeline, size or valuation has been set.
Source: EnterpriseAM
