Financial disclosures or reports from Crusoe Energy Systems

Crusoe Raises $600M in Series D to Expand AI Data Centers with Clean Energy

Dec 12, 2024, 03:54 PM

Crusoe Energy Systems LLC, a startup focused on building data centers for artificial intelligence workloads, has raised $600 million in a Series D funding round, valuing the company at $2.8 billion. The funding round was led by Peter Thiel’s Founders Fund, with participation from investors including Nvidia Corp., Fidelity, Long Journey Ventures, Mubadala, Ribbit Capital, and Valor Equity Partners. Crusoe initially provided small, containerized data centers to oil wells in the U.S. by harnessing natural gas that would otherwise be wasted. The company has since pivoted to AI and high-performance computing, offering cost-effective generative AI compute at scale using clean energy. Crusoe has launched Crusoe Cloud, a high-performance cloud platform for AI and machine learning workloads, and is expanding its operations with plans for new data centers powered by abundant, low-cost clean energy. The company now has over 15 gigawatts in development.