Crusoe Raises $3.9B, Valued at $30.9B

AI data center builder Crusoe Inc. has closed a $3.9 billion Series F funding round at a $30.9 billion valuation. The round was led by Atreides Management, Mubadala Capital and Valor Equity Partners, with participation from Nvidia, Salesforce Ventures and over two dozen others. Crusoe operates major data center projects for Oracle, Microsoft and Google, with more than 6 gigawatts of contracted capacity in development representing over $140 billion in contracted revenue. Its cloud platform's annualized revenue has grown more than 20-fold in the past year, driven largely by its Managed Inference service, which surpassed $100 million in annualized recurring revenue within a year of launch.