Crusoe Raises $3.9B at $30.9B Valuation for AI Infrastructure

Crusoe, a Denver-based AI infrastructure company, has raised $3.9 billion in a Series F funding round, valuing the company at $30.9 billion. The round, announced on September 17, 2026, was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from investors including Founders Fund, Nvidia, GIC, and the Qatar Investment Authority. The new valuation represents a significant increase from the company's $10 billion valuation in its previous funding round in October 2025. Crusoe plans to use the capital to expand its existing data center projects and build out its modular AI factories, known as Spark. These smaller, factory-built facilities can be transported by truck and deployed quickly to add computing capacity for AI inference workloads. Crusoe now reports more than $140 billion in total contracted value across its platform and over 6 gigawatts of gross contracted capacity, with approximately 1 gigawatt already operational. The company's flagship project is a large AI campus in Abilene, Texas, which is used by OpenAI through a partnership with Oracle. Crusoe is also building a 900-megawatt site for Microsoft nearby.