AI infrastructure startup Crusoe founded by Chase Lochmiller (Chief Executive Officer) and Cullom Cavness (Chief Strategy Officer), has reportedly raised more than $3 billion in fresh funding, taking its valuation to roughly $30 billion as demand for computing capacity continues to reshape the data centre industry.
The valuation is on a post-money basis, meaning it includes the capital raised in the latest round, Bloomberg News reported.
The fundraising gives Crusoe considerably more capital to work with as it expands a business that looks very different from the company that was launched in 2018. Crusoe began as a cryptocurrency-focused operation before pivoting towards AI infrastructure, placing itself among a group of emerging companies often described as “neoclouds” that provide specialised AI cloud and data centre services.
The latest reported valuation also follows a substantial funding round in 2025, when Crusoe raised $1.38 billion at a valuation of more than $10 billion.
Jane Street deal adds weight to Crusoe’s expansion
The new funding is not the only major development around Crusoe.
The company has separately signed a five-year cloud contract with trading firm Jane Street Group valued at around $13 billion, according to Bloomberg News. Jane Street has become Crusoe’s highest-profile cloud customer to date, and the agreement helped generate investor interest in the latest fundraising effort, the report said.
That contract gives another indication of the scale at which Crusoe is attempting to build its AI infrastructure business.
The company also has agreements to provide AI computing power to Meta Platforms and Oracle, according to the report.
Taken together, the fundraising and customer agreements point to a business increasingly centred on supplying the computing infrastructure required to develop and operate AI models.
4.9 GW of computing power already contracted
One of the more revealing numbers behind Crusoe’s expansion is its contracted computing capacity.
In June, the company said it had contracts covering 4.9 gigawatts of computing power. Its total project pipeline was even larger, at more than 40 gigawatts.
That 4.9 GW figure provides an important additional lens on the reported $30 billion valuation. Rather than the fundraising standing alone as a financial milestone, it comes while Crusoe is building a sizable contracted base for its infrastructure operations and working with some of the largest names seeking AI computing capacity.
The company has been expanding as spending on data centres rises alongside demand for the computing power needed to build and run AI models.
From cryptocurrency to AI infrastructure
Crusoe’s trajectory also reflects how quickly its business focus has changed.
Founded in 2018 as a cryptocurrency business, it later moved into AI infrastructure and specialised computing. Today, its reported customer relationships, multibillion-dollar cloud contract and growing pipeline place the company much deeper into the infrastructure layer supporting artificial intelligence.
The latest round, if completed on the terms reported, would value Crusoe at roughly $30 billion after including the newly raised capital.
Crusoe could not immediately be reached for comment outside regular business hours, Reuters reported.
For now, the standout figures tell much of the story: more than $3 billion in new funding, a roughly $30 billion post-money valuation, a five-year Jane Street contract worth around $13 billion, 4.9 GW of contracted computing power and a project pipeline exceeding 40 GW.
Those numbers show just how far Crusoe has moved from its cryptocurrency origins as it builds its position around the infrastructure required for increasingly compute-intensive AI workloads.
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