Crusoe raises $1.375 billion at a valuation above $10 billion to enhance AI infrastructure.

Mubadala Capital and Valor Equity Partners co-led Cruiser’s $1.375 billion Series E funding round, boosting its valuation to over $10 billion. The round, which closed with high demand, included participation from 137 Ventures, NVIDIA, and others. This capital will enable Crusoe to expand its vertically integrated Artificial Intelligence (AI) infrastructure platform, which encompasses energy sourcing, data center design, and cloud services.

Crusoe Cloud, designed for AI developers, allows clients to focus on creating AI solutions without infrastructure complexities. With features like 99.98% uptime and global availability, the platform has garnered trust from companies including Cursor and Together AI. Recent investments, including the acquisition of Atero for Graphics Processing Unit (GPU) management, aim to enhance service offerings.

By applying a vertically integrated approach, Crusoe aims to rapidly scale its AI data center campuses. The first phase of its 1.2 gigawatt facility in Abilene, Texas, became operational within a year of construction. CEO Chase Lochmiller emphasized the dual goals of providing essential infrastructure and high-performance software to support AI factory operations at scale.