Crusoe Secures $3.9 Billion Series F at $30.9 Billion Valuation to Scale AI Factory Operations
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Vertically integrated AI infrastructure provider Crusoe announced the initial closing of a $3.9 billion Series F funding round today, achieving a $30.9 billion post-money valuation. The oversubscribed round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from NVIDIA, Founders Fund, GIC, Qatar Investment Authority, Radical Ventures, and TPG.
The massive capital injection will fuel the expansion of Crusoe Cloud and the physical buildout of the company's AI factories. Crusoe currently holds over $140 billion in total contracted value across its vertically integrated platform. The company has secured more than 6 gigawatts (GW) of gross contracted capacity and has over 1 GW of capacity delivered and operational today. Year-over-year bookings for Crusoe Cloud have grown by more than 20x.
Crusoe is aggressively expanding its capabilities beyond base-level compute. Its Managed Inference service, launched late last year, has already surpassed $100 million in contracted annual recurring revenue. Utilizing its proprietary MemoryAlloy technology, the inference engine delivers up to 9.9x faster time-to-first-token and 5x higher throughput compared to standard vLLM setups.
Customer adoption across the platform spans hyperscalers, frontier model developers, and enterprises. The company noted that OpenAI trained its first artificial general intelligence, Astra, at an Abilene campus designed and built by Crusoe. Other major customers, including Perplexity, are also actively building on the Crusoe Cloud platform.
A core component of Crusoe's scaling strategy involves the deployment of Crusoe Spark, a modular data center product manufactured in-house. These scalable units are designed to slash field construction timelines from years to weeks, allowing the company to rapidly deploy capacity in locations with abundant energy. Crusoe's energy-first model originates and manages power directly at the source through partnerships spanning grid, battery, nuclear, thermal, and renewable energy providers.
The company now employs over 1,800 people across five countries and recently added major industry veterans to its board of directors, including former Digital Realty CEO Bill Stein, Cloudflare CFO Thomas Seifert, and Redwood Materials Founder and CEO JB Straubel.
