Mubadala Capital, which already took part in a US$350 million Series C funding in the US-based Crusoe in July 2022, led the anticipated US$1.375 billion Series E round, which brings the AI factory company’s expected valuation to over US$10 billion.
The oversubscribed round was co-led by Mubadala Capital and Valor Equity Partners.
Crusoe has established itself as a global leader in AI infrastructure through its vertically integrated model that spans across rapid energy sourcing, AI-optimised data centre design and construction, and a high-performance AI cloud platform.
Among other companies that invested were Nvidia, Fidelity Management & Research Company, Franklin Templeton, Salesforce Ventures, Supermicro, T Rowe Price and Tiger Global Management.
Chase Lochmiller, CEO and co-founder of Crusoe., commented: “Advances in AI will usher in an era of AI-driven abundance, leading to new scientific breakthroughs and unprecedented economic growth and human prosperity.
“However, the pace of progress is constrained by bottlenecks in energy and compute. Crusoe is in the business of activating energy for intelligence and helping the greatest innovators of our generation build the future faster.
“Today’s Series E enables Crusoe to rapidly expand our vertically integrated approach to delivering AI factories at the speed and scale needed to meet the ambitions of our customers. Crusoe is uniquely positioned to deliver both the physical infrastructure needed for an AI factory, including power and data centres, as well as the high-performance software required to operate an AI factory and produce intelligence efficiently at scale through Crusoe Cloud.”
Crusoe’s AI cloud platform, Crusoe Cloud, empowers AI builders to focus on innovating rather than managing complex infrastructure. Crusoe Cloud simplifies operations and accelerates time-to-value, helping customers build their AI solutions faster.
The company provides a globally available service backed by 99.98 per cent uptime and enterprise-grade support. The company continues to invest heavily in its platform to enhance performance, with its recent acquisition of Atero for GPU management and memory optimisation accelerating the development of its managed AI services.
Founded in 2018, Crusoe has raised close to US$3.9 billion since its inception and has partnered with OpenAI in building its first data centre in the US in Abilene, Texas which is due to be completed by mid-2026. The company recently announced that the first phase of its 1.2 gigawatt data centre in Abilene campus is live just one year after construction began.
Mubadala Capital is a global alternative asset management platform that manages over US$430 billion in assets through its asset managers and strategic partnerships. It’s a subsidiary of Mubadala Investment Company.
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