The cloud and data center operator Crusoe raises more than three billion dollars, reaching a valuation of around 30 billion dollars. That would be nearly three times the just over ten billion dollars from October 2025. A five-year contract with the trading firm Jane Street worth around 13 billion dollars for graphics chips and cloud capacity was apparently the trigger.
Investors triple Crusoe’s valuation in eleven months
According to Bloomberg, Crusoe has raised more than three billion dollars in a new funding round. The round values the data center operator at around 30 billion dollars post-money – a figure that has not been independently verified. The round is led by Atreides Management and Valor Equity Partners, with Mubadala Capital, a subsidiary of the Abu Dhabi state investor, also participating. Just in October 2025, Crusoe had closed a Series E of 1.375 billion dollars at a valuation of just over ten billion dollars – the new round nearly triples that value within eleven months. Founded in 2018, the company pivoted from crypto mining to operating AI data centers and says it supplies computing capacity to Meta, Microsoft, OpenAI, and Oracle, among others. For OpenAI, Crusoe is building a data center cluster in Abilene, Texas, with 1.2 gigawatts of capacity. The current capital jump continues a series of rapidly growing rounds: the 2024 Series D already brought in 600 million dollars at a valuation of 2.8 billion dollars, led by Founders Fund with Nvidia and Fidelity as additional investors.
Billion-dollar Jane Street contract sparks investor interest
The trigger for the surge in investor interest was a cloud contract with the trading firm Jane Street worth around 13 billion dollars over five years. Jane Street sources graphics-processor clusters and further infrastructure for AI training and inference through Crusoe’s cloud platform – according to Bloomberg, the company’s most prominent cloud customer to date. Corresponding inquiries from the news agency Reuters about the contract went unanswered by both Crusoe and Jane Street at first. Unlike an equity stake, the money from the five-year contract does not flow in the form of shares but as revenue for rented computing capacity – a model increasingly becoming a second source of funding for cloud providers like Crusoe, alongside venture capital. Jane Street, an investment firm specializing in algorithmic securities trading, is thus making its debut on a large scale as a buyer of AI computing power. The round fits into a series of billion-dollar valuations for AI infrastructure and applications, which recently also included Cognition’s negotiations over 47 billion dollars and Dell’s record order backlog for AI servers.
It remains open whether the reported figures will hold up once officially confirmed – reports about talks over the same target valuation had already circulated in July 2026, without a deal being reached. It will also be decisive whether parallel reports about exploratory talks with the investment banks Goldman Sachs and Morgan Stanley lead to an IPO, which would subject Crusoe to public financial scrutiny for the first time.
