Crusoe raises $3.9 billion to expand its AI infrastructure
Crusoe has raised $3.9 billion in a Series F funding round , bringing its post-investment valuation to $30.9 billion . The capital will allow the company to expand its artificial intelligence infrastructure in response to growing demand for computing power.
Furthermore, the deal highlights the amount of capital flowing into the AI data center sector. The expansion of models and services based on this technology requires vast amounts of computing power, specialized facilities, and access to energy.
The Series F round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners. New and existing investors also included Nvidia, Founders Fund, and Qatar Investment Authority (QIA), according to the company's announcement.
Crusoe reaches a valuation of $30.9 billion
The $3.9 billion raised places Crusoe in a new stage of growth; the company plans to allocate the resources to its current programs and the construction of its own infrastructure to run artificial intelligence workloads.
The company presents itself as an integrated infrastructure provider, its activity encompasses everything from energy access and data center development to AI-oriented cloud computing services.
In this way, Crusoe seeks to control a large part of the infrastructure needed to provide computing power. This approach is particularly relevant in a market where energy availability and the construction of facilities can limit the deployment of new AI systems.
Nvidia and major funds back Crusoe's Series F
Furthermore, the composition of the funding round demonstrates the interest of major investors in the IT infrastructure business. Atreides Management, Mubadala Capital, and Valor Equity Partners co-led Crusoe's Series F round.
The round also received backing from Nvidia, Founders Fund, GIC, QIA, Radical Ventures, and TPG, among other participants. Crusoe reported that the round was oversubscribed.
Nvidia's participation is particularly relevant within the artificial intelligence ecosystem. Crusoe offers infrastructure ready for graphics accelerators intended for training and running models, including systems based on Nvidia hardware.
What will Crusoe use the 3.9 billion for?
In this sense, the purpose of the funding extends beyond simply increasing the capacity of a specific data center. Crusoe intends to finance its existing programs and continue developing large-scale facilities alongside modular units.
The company refers to these AI-powered facilities as AI factories; its strategy combines large campuses with Crusoe Spark, a modular proposal designed to add computing capacity close to available power sources.
In turn, part of that expansion will support the growth of Crusoe Cloud, this business provides computing resources for companies that need to train, tune or run artificial intelligence models.
Therefore, the new funding will allow action at various points in the chain: energy, construction, computing capacity and cloud services.
From cryptocurrencies to artificial intelligence infrastructure
Crusoe's origin shows how its business has changed; the company was founded in 2018 and its initial activities were related to energy and cryptocurrency mining.
Subsequently, the company shifted its expertise in energy and computing to artificial intelligence infrastructure. This evolution positioned it within the group of companies known as neoclouds, providers that offer specialized computing capacity for AI workloads.
Unlike a general-purpose cloud provider, this type of provider focuses a significant portion of its resources on the needs of artificial intelligence models. This involves managing large amounts of GPUs, power, cooling, and high-speed connections.
Crusoe surpasses $140 billion in contracts
Currently, Crusoe reports having over $140 billion in total contracted value on its platform. The company also reports over 6 gigawatts of gross contracted capacity across data centers and cloud services.
Of that capacity, more than 1 GW has already been delivered and is operational, according to figures published by the company itself.
However, the contracted value should not be interpreted as revenue already earned, but rather as the value associated with agreements during their term. Similarly, having contracted capacity does not mean that all of it is currently built and operational.
This difference allows us to gauge both the growth potential and the work that remains. Crusoe needs to convert a considerable portion of that committed capacity into operational infrastructure.
Demand for data centers is accelerating investment in AI.
At the same time, the funding round reflects the enormous volume of financing required for the expansion of artificial intelligence. Current systems need data centers capable of housing large concentrations of processors and keeping them running for extended periods.
The challenge doesn't end with the purchase of chips; each data center needs power supply, cooling, high-speed networks, and equipment capable of handling very dense computing loads.
For this reason, access to energy has become one of the factors determining capacity expansion. Crusoe is attempting to address this problem through a model that begins by locating and securing energy sources before developing any of its infrastructure.
The capital raised will accelerate this process. At the same time, it increases the need to transform contracted projects into available capacity for clients.
Neoclouds are growing with the rise of artificial intelligence
Finally, Crusoe's growth is part of a broader trend; the demand for computing power has opened up space for specialized providers competing to serve companies that develop and use artificial intelligence models.
Neoclouds aim to meet this demand through infrastructure designed around GPUs and other accelerators. In this market, the ability to secure chips must be combined with power, facilities , and speed to get systems up and running.
Crusoe aims to integrate several of these functions within a single platform; after the F Series, the company has another $3.9 billion to expand that model.
The next step will be to convert the capital and the more than 6 GW of contracted capacity that the company reports into available infrastructure. With 1 GW already operational, the difference between these two figures illustrates the scale of the plans Crusoe seeks to implement as the demand for computing power for artificial intelligence continues to grow.
News of additional interest
Vallourec adds energy contracts in Brazil and Greece
Vallourec secured two new contracts expanding its involvement in energy projects in Brazil and Greece. In Brazil, it will supply Subsea7 with approximately 130 kilometers of pipeline for Petrobras' Sepia 2 project, located in the ultra-deep waters of the Santos Basin. The order exceeds 15,000 tons, and production will take place at the group's Brazilian plants. The project includes 15 wells and a new FPSO installed at a depth of approximately 2,170 meters.
In Greece, Energean's subsidiary EnEarth selected Vallourec to supply approximately 3,000 tons of pipes and fittings to the Prinos project. The initiative aims to transform a former oil field into a permanent CO₂ storage facility. It is projected to have an injection capacity of up to 2.8 million tons per year and an estimated total storage capacity of 51.5 million tons.
Strohm is bringing its TCP pipelines to the Brazilian pre-salt.
Strohm in partnership with Petrobras and Shell, has completed the testing and qualification phase of its TCP thermoplastic composite pipe for use in Brazil's ultra-deep waters. The 6-inch system combines carbon fiber with PA12 polyamide and was evaluated over 50,000 hours. The campaign included more than 40 tests at seven sites in Europe and Brazil, conducted according to the DNV-ST-F119 standard. A pilot installation in a pre-salt field is now being prepared for early 2027.
The technology is designed for tasks such as alternating water and gas injection, which helps improve oil recovery. Unlike metal pipelines, the TCP uses materials that offer resistance to corrosion caused by CO₂ environments. It also weighs less and can be installed on existing vessels without major procedural changes. Strohm projects a 30-year lifespan, although connections, seals, pressure, and loads during operation will remain important factors affecting its performance.
Amber raises $78.5 million to expand in Europe
Amber secured $78.5 million in a new funding round to accelerate its growth in Australia and expand its international presence, with Europe among its primary targets. The round was led by 1GT, Morgan Stanley's climate technology fund, and included investors such as ETF Partners, Innovation Victoria, and E.ON. Demand for the investment was nearly twice the amount the company initially sought to raise.
The Australian company allows households to access wholesale electricity prices and automate their batteries. Its system can store energy when it's cheaper and sell it back to the grid when prices rise. Amber says it already manages more than half of the installed home batteries in Australia. Part of the new capital will fund vehicle-to-grid (V2G) functions, which will allow an electric car's battery to be used to sell electricity during peak demand periods. Its technology is also present in the UK through a collaboration with E.ON Next.
Japan tests ammonia to fuel large ships
NYK Line and several Japanese companies completed the world's first ship-to-ship ammonia refueling operation for a vessel that will use this fuel. The test took place on September 17 at Japan Marine United's Ariake shipyard. The Shoei Maru transferred ammonia via hoses to a new gas tanker that is in its final stages of construction. The fuel will be used during its upcoming sea trials, and the ship is scheduled for delivery in November 2026.
Ammonia is of interest in maritime transport because it does not produce CO₂ during combustion, although its toxicity necessitates strict safety measures. Before the transfer, the participating companies defined procedures for handling the fuel and reducing risks during operation. The demonstration also provided practical experience with a refueling system that could be used on future vessels. The project is supported by the NEDO Green Innovation Fund of Japan.