Crusoe raises $3.9bn as contracted AI capacity passes 6 gigawatts

AI infrastructure company Crusoe has raised $3.9 billion at a $30.9 billion valuation as it expands the data centres and computing capacity needed to run artificial intelligence models.

The company says it now has more than 6 gigawatts of data-centre and cloud capacity under contract, with approximately 1GW currently operational.

Crusoe also reports more than $140 billion in total contracted value.

The funding round includes investment from Nvidia, Qatar Investment Authority, Singapore’s GIC and Founders Fund, alongside other investors.

Building AI infrastructure

Crusoe provides purpose-built infrastructure for AI workloads, including data centres and cloud computing.

The company says the latest funding will be used to expand its AI infrastructure platform as demand for computing capacity continues to grow.

Its 6GW figure represents contracted capacity rather than infrastructure already operating. Around 1GW is currently operational, according to the company.

Similarly, the reported $140 billion represents total contracted value rather than annual revenue.

The scale illustrates the physical infrastructure now being assembled around the AI industry.

Large AI systems require substantial computing hardware, electricity, cooling and data-centre capacity. Crusoe has expanded from its origins using otherwise wasted natural gas to power computing equipment into the development of large-scale AI infrastructure.

Reuters reports that the latest financing more than doubles Crusoe’s valuation from its previous funding round.

The company has been involved in major AI data-centre projects in the United States and has continued expanding its cloud-computing business as demand for specialised AI hardware increases.

The new capital gives Crusoe additional funding for that expansion while investors continue committing billions of dollars to the infrastructure supporting the AI boom.

With more than 6GW now contracted but only around 1GW operational, much of Crusoe’s planned capacity still has to be built and brought online.

The contracts are already being signed.

The infrastructure now has to catch up.

Sources

• Crusoe – Series F funding announcement and infrastructure figures
• Reuters – Crusoe valued at $30.9 billion in latest funding round