Crusoe in talks to raise about $3 billion at a roughly $30 billion valuation

Crusoe is in talks to raise about $3 billion in a new funding round that investors expect to value the company around $30 billion including the new money. The data-center operator supplies AI computing power to Meta, Oracle, Microsoft and Google.

That figure would roughly triple the more-than-$10-billion valuation Crusoe reached in its October 2025 Series E, a $1.375 billion round co-led by Valor Equity Partners and Mubadala Capital. The pace of the markup tracks how quickly capital is chasing anyone who can build and power AI data centers, where demand for capacity has outrun supply.

Crusoe’s pitch to investors rests on contracted power. The company has disclosed contracts for nearly 5 gigawatts of computing power and more than 40 gigawatts across its total project pipeline, the kind of long-dated capacity that hyperscalers are competing to lock up.

The raise is not done. Talks are still active, a final valuation has not been set, and no investors in the new round have been named, so the roughly $30 billion figure reflects where backers expect the deal to land rather than a closed price. Company-supplied pipeline figures also describe projects at varying stages, not delivered gigawatts.

A close near that valuation would put Crusoe among the most richly valued private companies in AI infrastructure, a category that barely existed at this scale two years ago. Whether the pipeline converts into revenue on schedule is the number to watch once the round is signed.