⚡Funding Brief⚡ Crusoe has reportedly raised more than $3 billion at a post-money valuation of roughly $30 billion, according to Bloomberg. Atreides Management and Valor Equity Partners co-led the round, with participation from Mubadala Capital. Sources describe the round as finalised, though Crusoe has not made an official announcement. That mark comes just ten months after the last one. In October 2025, Crusoe closed a $1.375 billion Series E at a valuation above $10 billion. Ten months later, roughly three times that. What drove it was a contract, not a pitch deck. Crusoe recently signed a reported five-year, $13 billion cloud agreement to supply quantitative trading firm Jane Street with GPUs and AI infrastructure. That is a commercial deal on the sell side, not financing — but a long-dated contract of that size is what made investors comfortable underwriting at $30 billion. Crusoe started in 2018 by capturing natural gas that oil fields would otherwise have flared, and using it to power bitcoin mining. In March 2025 it sold that entire mining and flare-mitigation business to NYDIG. Today it is purely an AI infrastructure company — sourcing its own power, building its own data centres, running its own cloud — with customers including OpenAI, Microsoft and Meta. As models scale, the scarce resource is no longer the algorithm. It is power, land and compute. Whoever controls that physical layer controls the foundation of the AI economy. Source: Bloomberg / TechCrunch, 2026-09-03