Crusoe
Crusoe builds AI infrastructure from energy generation and data-centre campuses through Crusoe Cloud. Its advantage, if it holds, is solving the power-and-delivery problem that can prevent AI demand from turning into operating capacity.
The Company
Crusoe started with energy-focused computing and has expanded into a vertically integrated AI-infrastructure platform. It develops and operates large campuses, buys and deploys equipment, and provides cloud capacity to AI-native, hyperscaler, frontier-model, and enterprise customers.
The company raised a $600M Series D at $2.8B in late 2024, then a $1.375B Series E above $10B in 2025. Its September 2026 Series F materially increased the scale of both its financing and valuation.
Why It Matters
Crusoe shows how the AI boom is transferring value from software into power, land, construction, networking, and finance. It is a key private comparable for the economics of the emerging AI-factory model.
Valuation History
What Changed
Closed a $600M Series D at a $2.8B valuation to expand AI infrastructure.
Raised $1.375B at a valuation above $10B as AI-compute demand accelerated.
Announced a $3.9B Series F at a $30.9B post-money valuation and $140B+ of total contracted value.
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