Bloomberg, citing sources, reported on the 3rd (local time) that data center developer Crusoe raised more than $3 billion (about 4 trillion won) in its latest funding round. The investment is said to value Crusoe at about $30 billion (about 40.5 trillion won).
The round was led by technology-focused hedge fund Atreides Management and Valor Equity Partners, and Mubadala Capital, an affiliate of Abu Dhabi's sovereign wealth funds Mubadala, also took part.
Earlier, Crusoe signed an artificial intelligence (AI) computing capacity supply contract worth about $13 billion with Wall Street quantitative trading firm Jane Street, and Bloomberg said the deal also helped the fundraising.
Founded in 2018, Crusoe is a leading neo-cloud company that rents out AI compute resources specialized in graphics processing unit (GPU) infrastructure, alongside CoreWeave, Nevus, and Lambda. Crusoe originally set out to supply power to cryptocurrency mining facilities under Chief Executive Officer (CEO) Lochmiller and Chief Strategy Officer (CSO) Curly Cavaness, but as computing demand surged with the AI boom, it shifted its business to AI infrastructure.
Crusoe is participating in OpenAI and Oracle's "Stargate" data center development project, and is also supplying computing capacity to Meta, Facebook's parent company.