Crusoe Raises $3.9B in Series F at $30.9B Valuation

Crusoe, an AI computing infrastructure startup, has completed a $3.9 billion Series F funding round at a post-money valuation of approximately $30.9 billion, according to The Wall Street Journal. The round was co-led by Atreides Management, Valor Equity Partners, and Mubadala Investment, with participation from Founders Fund, TPG, and the Qatar Investment Authority (QIA), among others. Founded in 2018, Crusoe initially served cryptocurrency miners before pivoting to AI computing infrastructure. It previously spent two years building a large AI data center in Abilene, Texas, to provide computing power for OpenAI and Microsoft. The company is now shifting to produce compact data centers called "Spark," loading prefabricated facilities onto trucks for deployment at sites with idle power, to more rapidly meet AI inference computing demand.