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
Official WebsiteCrusoe Funding Timeline
Series F (Initial Closing)
US$3.9 billion · $30.9B valuation
Led by Atreides, Mubadala Capital, Valor Equity Partners. Participation included NVIDIA and 3 more on record.
Source · crusoe.ai ↗Series E (Initial Closing)
US$1.375B (initial closing of anticipated total) · $10B valuation
The announcement covered the initial closing. It did not establish that investors expected in a subsequent closing had already funded their commitments.
Led by Valor Equity Partners, Mubadala Capital. Participation included Founders Fund, Fidelity Investments and 4 more on record.
Source · crusoe.ai ↗Series D
US$600 million · $2.8B valuation
Led by Founders Fund. Participation included Fidelity Investments, NVIDIA, Ribbit Capital and 1 more on record.
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
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 used the financing to expand its digital flare mitigation business. The headline amount combines equity with credit facilities.
Led by Bain Capital Ventures, KCK Group.
Source · prnewswire.com ↗
Crusoe Founding Team
Chase Lochmiller
Co-founder and CEO of Crusoe; previously a quantitative researcher and trader at Jump Trading and GETCO.
Status: activeReviewed: 2026-11-04Cully Cavness
Co-founder, President and Chief Strategy Officer of Crusoe; background in upstream oil and gas and geothermal.
Status: activeReviewed: 2026-11-04
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.