Crusoe Cloud
Rent cloud computing capacity for training and running AI models.
Crusoe Funding History
Crusoe builds AI data centers and cloud infrastructure with an emphasis on energy sourcing. Its vertically integrated approach brings together power, physical facilities and AI cloud services, addressing the infrastructure required to train and operate compute-intensive AI systems.
Company Overview
Founded 2018 · Denver, Colorado, US
Official WebsiteCrusoe Funding Timeline
Series F (Initial Closing)
US$3.9 billion · $30.9B valuation
Crusoe announced the initial closing of its oversubscribed Series F at a $30.9 billion post-money valuation. It put the expected round total at $3.9 billion.
Led by Atreides, Mubadala Capital, Valor Equity Partners. Participation included NVIDIA, Founders Fund, GIC, Salesforce Ventures.
Source · crusoe.ai ↗Series E (Initial Closing)
US$1.375B (initial closing of anticipated total) · $10B valuation
Crusoe announced an initial closing of its planned $1.375 billion round and said it expected funds managed by Blue Owl to join at a later closing.
Led by Valor Equity Partners, Mubadala Capital. Participation included Founders Fund, Fidelity Investments, NVIDIA, Ribbit Capital, Salesforce Ventures, Tiger Global.
Source · crusoe.ai ↗Series D
US$600 million · $2.8B valuation
Crusoe opened general access to Crusoe Cloud alongside the closing, expanding its offering for developers running AI and machine learning workloads.
Led by Founders Fund. Participation included Fidelity Investments, NVIDIA, Ribbit Capital, Valor Equity Partners.
Source · crusoe.ai ↗Series C
US$350M equity (US$505M total incl. credit)
The headline amount here covers the equity offering. Separately expandable credit facilities were included in the company’s broader capital announcement.
Led by G2 Venture Partners. Participation included Valor Equity Partners, Bain Capital Ventures, KCK Group.
Source · crusoe.ai ↗Series B
US$128 million
Crusoe announced the equity round alongside a separate project-financing facility from Upper90 to expand its flare-powered computing operations.
Led by Valor Equity Partners. Participation included Polychain Capital, KCK Group, Bain Capital Ventures.
Source · crusoe.ai ↗Series a (Equity + Credit/Project Financing)
US$70M total (equity portion ~US$30M per trackers)
Crusoe raised $30 million in equity and secured $40 million in project financing to expand its digital flare mitigation services.
Led by Bain Capital Ventures, KCK Group.
Source · prnewswire.com ↗
Crusoe Founding Team
Crusoe’s founding team brought together quantitative trading and energy-industry experience. That pairing is relevant to a business that treats power sourcing as part of building computing infrastructure.
- Chase Lochmiller — CEO. Previously a quantitative researcher and trader at Jump Trading and GETCO.
- Cully Cavness — President and Chief Strategy Officer. Background in upstream oil and gas and geothermal.
Crusoe Products
Crusoe Company Development
Power Infrastructure Sets the Terms for AI Hosting
Crusoe built a vertically integrated offering that connects access to power, data-center development and cloud capacity. The combination puts power and facility availability inside the company’s plan for bringing new compute online.
Crusoe Competitive Landscape
Facility Development and Cloud Operations
Crusoe and CoreWeave both sell AI infrastructure. Crusoe emphasizes developing data centers around power supply, while CoreWeave’s offer centers on GPU cloud infrastructure for AI workloads. That difference matters most when a buyer needs a dedicated facility arrangement as well as hosted compute.
FAQ
Why is power availability central to AI data centers?
Accelerator clusters require substantial electricity and cooling. Available power and connection timelines can constrain a project even when computing hardware is available.
How does a data-center developer differ from an AI cloud operator?
A developer delivers physical capacity, while a cloud operator sells access to computing services. A company may participate in both, but the revenues and financing needs differ.
Is announced data-center capacity the same as operational capacity?
No. Proposed, under-construction, contracted and energized capacity represent different stages and should be identified separately.
What does an initial closing mean for Crusoe’s Series F?
It refers to the financing described as closed at that stage. It should not automatically be treated as a guarantee that all potential later commitments have closed.
Should project debt be added to company equity funding?
No. Debt and equity have different obligations and recipients. A project financing should be classified before it is combined with corporate financing figures.
How should energy claims about AI infrastructure be assessed?
Check the location, electricity source, timing, contractual arrangements and what part of the facility lifecycle a claim covers.