Upper90 closes $225M credit facility for Crusoe to expand AI cloud infrastructure

Crusoe expands Cloud Artificial Intelligence (AI) platform to meet growing enterprise demand

Upper90 Capital Management, LP announced the closing of a $225 million credit facility for Crusoe, a provider of AI infrastructure. The funding will support the expansion of Crusoe Cloud, aimed at enterprise AI workloads.

The credit facility, led by Upper90 with participation from institutional partners including British Columbia Investment Management Corporation and FS Investments, is earmarked for acquiring NVIDIA GPUs and cloud infrastructure. This follows Crusoe’s previous $600 million Series D funding announced in December.

Chase Lochmiller, CEO and co-founder of Crusoe, stated that this funding will enhance Crusoe Cloud, designed to streamline AI development for companies. He noted Upper90’s role in scaling Crusoe’s technology amid increasing demand.

Upper90 has been a partner of Crusoe since 2019, providing initial loans and support through various growth stages. Billy Libby, CEO of Upper90, mentioned their focus on innovative financing for high-growth companies and their commitment to furthering their relationship with Crusoe.