Crusoe raises $3.9B for AI data centers

crusoe, an eight-year-old data center developer, raised $3.9 billion in a series f round that pushes its valuation to $30.9 billion. the round was co-led by atreides management, mubadala capital, and valor equity partners, with participation from founders fund, gic, nvidia, qatar investment authority (qia), radical ventures, and tpg. crusoe will use the funds to finance existing data center projects, including a large site in abilene, texas, used by openai, as well as build smaller, modular ai factories called spark. these modular data centers can be transported by truck and connected to large power sources almost anywhere, allowing crusoe to deploy compute capacity quickly and without the need for large construction workforces.