Crusoe raises $3B at $30B valuation

AI infrastructure company Crusoe has secured more than $3 billion in a new funding round, reportedly valuing the company at approximately $30 billion. The investment was co-led by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth fund. This latest funding round follows a significant development for Crusoe: the company recently signed a five-year cloud contract with quantitative trading firm Jane Street valued at around $13 billion. This agreement, which will see Crusoe supply Jane Street with GPUs and AI infrastructure, is considered one of the largest AI cloud contracts of the year and marks Jane Street's most prominent customer for Crusoe's cloud business. The substantial contract with Jane Street is seen as providing strong evidence for investors in Crusoe's latest fundraising effort. Reports indicate that Crusoe was also seeking a chip loan backed by its contracts with Jane Street, suggesting the agreement served as collateral before its public announcement.