Crusoe, headquartered in San Francisco and Denver, has completed the first closing of its $1.375 billion Series E funding round, placing its valuation at over $10 billion.
The round was co-led by Valor Equity Partners and Mubadala Capital. Other participants included 137 Ventures, 1789 Capital, Activate Capital, Altimeter Capital, Atreides Management, BAM Elevate, DPR Construction, Ora Global, Fidelity Management & Research Company, Founders Fund, Franklin Templeton, Galvanize, Long Journey Ventures, Lowercarbon Capital, M37 Management, MCJ, NVIDIA, Radical Ventures, Ribbit Capital, Salesforce Ventures, Saquon Barkley, Spark Capital, StepStone Group, Supermicro, T. Rowe Price, Tiger Global Management, Upper90, Winklevoss Capital, and Zigg Capital.
Funds managed by Blue Owl are expected to join later.
Led by CEO and Co-Founder Chase Lochmiller, Crusoe operates as an AI infrastructure company. Its vertically integrated operations span:
Energy sourcing
Data center design and development
A high-performance AI cloud service
The company positions this approach as a way to support growing AI compute demand.
Crusoe Cloud currently supports organizations such as Cursor, Decart, Fireworks, Odyssey, and Together AI.
The company recently acquired Atero for GPU management and memory optimization. This move is expected to strengthen its managed AI services. Besides that, Crusoe is expanding its cloud presence in Norway and Iceland and has opened offices in Dublin, Sunnyvale, and Tel Aviv.
Crusoe continues to build its 1.2-gigawatt Abilene, Texas data center campus. Additionally, the company is developing several more gigawatt-scale facilities, including a 1.8-gigawatt campus in Wyoming.
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