Crusoe Closes $3B+ Round at ~$30B Valuation, Tripling Series E

Crusoe closed a funding round of more than $3 billion at roughly a $30 billion valuation, Bloomberg reported, with Atreides Management and Valor Equity Partners co-leading and Mubadala Capital participating. The mark nearly triples the valuation Crusoe set in October 2025, when its Series E "raised $1.375 billion at more than $10 billion."

Mubadala Capital is "the alternative asset manager owned by Abu Dhabi sovereign wealth fund Mubadala," per Bloomberg's description of the investor. Saudi Arabia's Humain also announced a $2.5B fund under BSF Capital for Saudi data centers the same day.

Crusoe is "a cloud-computing provider and data center developer doing business with OpenAI, Microsoft Corp. and Meta Platforms Inc." Its flagship project is a "1.2-gigawatt data center cluster that it's building for OpenAI in Abilene, Texas," which Bloomberg calls the ChatGPT developer's largest Stargate campus. Meta has "signed contracts to use two Crusoe data centers undergoing construction in Texas and Missouri."

The financing lands the same day Crusoe was reported to have signed a roughly $13 billion, five-year cloud deal with Jane Street, adding a large trading-firm workload to a customer roster already anchored by hyperscalers and OpenAI.