Crusoe raises $3.9B to build massive data centers and small modular “AI factories”
Data center developer Crusoe has raised $3.9 billion in a Series F funding round, increasing its valuation to $30.9 billion. The capital will be used to expand existing large-scale facilities and deploy smaller, modular AI factories known as Spark. The company, which recently signed a major contract with Jane Street, is also exploring a potential initial public offering.
- ▪Crusoe raised $3.9 billion in a Series F round co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners.
- ▪The company plans to use the funds to build modular AI factories called Spark that can be transported by truck and deployed quickly.
- ▪Crusoe recently signed a $13 billion, five-year cloud contract to supply GPUs and AI infrastructure to quantitative trading firm Jane Street.
- ▪The company has met with investment bankers to discuss a potential IPO in the near future.
- ▪Crusoe was founded in 2018 as a crypto mining operation before pivoting to AI infrastructure.
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| Publication time | Thu, 17 Sep 2026 23:25:52 +0000 |
| Retrieval time | 2026-09-17T23:28:44.713Z |
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Data center developer Crusoe said Thursday it raised $3.9 billion in a Series F round that pushes its valuation to $30.9 billion. The massive round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners. Founders Fund, GIC, Nvidia, Qatar Investment Authority (QIA), Radical Ventures, and TPG also participated, according to Crusoe. Crusoe also announced three new board members, including Cloudflare CFO Thomas Seifert, Bill Stein, partner and CIO at Primary Digital Infrastructure, and Redwood Materials founder and CEO JB Straubel, who also sits on Tesla’s board. Straubel already has ties to Crusoe; he personally invested in the company in 2021, and Crusoe later became the first customer of Redwood’s energy storage business.
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