Crusoe Energy Systems, a US‑based developer of large‑scale data‑centre infrastructure focused on artificial‑intelligence workloads, announced on 23 October 2025 that it has raised approximately US$1.38 billion in a Series E funding round, valuing the company at around US$10 billion.
The funding round was oversubscribed and co‑led by Valor Equity Partners and Mubadala Capital, with additional participation from investors such as Nvidia, Fidelity Management & Research Company and Founders Fund.
Founded in 2018, Crusoe has raised about US$3.9 billion in funding to date, and its operations include building a 1.2‑gigawatt data‑centre campus in Abilene, Texas, which it says became operational one year after construction started.
Crusoe originally built its business around converting stranded natural‑gas flares into power for computing workloads, but it has since pivoted fully into AI‑optimised data‑centre infrastructure. The company’s development pipeline is reported to be large; for example, one analysis puts it at 45 gigawatts of capacity.
With demand for compute and infrastructure to support generative‑AI models accelerating, Crusoe says the fresh capital will support further expansion of its data‑centre footprint and accelerate deployment of AI‑ready infrastructure. Observers note this rise reflects a broader surge of investor interest in “neocloud” providers, that is, data‑centre firms specialising in AI workloads.
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