Crusoe Valued at $30 Billion After $3 Billion-Plus Funding Round
Crusoe, an AI infrastructure startup that once built its business around cryptocurrency mining, has raised more than $3 billion in a new funding round, putting its valuation at roughly $30 billion. The deal represents a major jump from the more than $10 billion valuation Crusoe reached in 2025 and reflects the growing demand for the infrastructure needed to run increasingly powerful AI systems.
The latest valuation is on a post-money basis, meaning it includes the new capital raised. Crusoe had previously secured $1.375 billion in its Series E round in October 2025, when the company was valued at more than $10 billion.
From cryptocurrency to AI infrastructure
Crusoe was founded in 2018 and initially focused on using excess natural gas to power cryptocurrency mining operations. Over time, the company moved away from that business and began building infrastructure for the much larger computing requirements of artificial intelligence.
That shift has turned Crusoe into one of a growing group of specialised AI cloud providers, often referred to as neoclouds. Instead of competing directly with traditional cloud giants across a wide range of services, these companies are building computing infrastructure specifically for AI workloads.
Crusoe develops data centres and provides computing capacity to technology companies building and running AI models. Its approach combines physical infrastructure with software designed to manage the computing resources inside those facilities.
The company says its vertically integrated model can speed up the development of AI data centres. Its platform also includes tools for managing servers and computing resources once a facility is operational.
A $13 billion deal with Jane Street
The new funding comes shortly after Crusoe secured another significant vote of confidence in its AI cloud business.
Trading firm Jane Street Group has signed a five-year cloud contract with Crusoe worth around $13 billion, according to Bloomberg News as reported by Reuters. The agreement is expected to make Jane Street Crusoe's highest-profile cloud customer so far and helped attract investor interest around the latest fundraising.
The deal also shows how demand for AI infrastructure is expanding beyond companies that directly build consumer-facing AI products. Financial firms, technology companies and other organisations increasingly need large amounts of computing capacity for AI workloads.
Crusoe's growing role in the AI buildout
Crusoe is already involved in major AI infrastructure projects for companies including Microsoft, Oracle and OpenAI. One of its most prominent developments is a large data centre campus in Abilene, Texas, being built for OpenAI as part of the broader Stargate infrastructure effort.
The company's business has therefore moved well beyond its cryptocurrency origins. Its growth is now tied to the enormous amount of computing power required to train and operate AI models, as technology companies continue to invest heavily in data centres, GPUs, power and cooling systems.
For Crusoe, the latest funding gives the company considerably more capital to expand that infrastructure business. It also places the startup among the increasingly valuable private companies supplying the physical and cloud infrastructure behind the AI boom.
