Crusoe, which describes itself as the first vertically integrated AI infrastructure provider, announced the initial closing of a $3.9 billion Series F round at a $30.9 billion post-money valuation on September 17, 2026. The oversubscribed round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with additional backing from Founders Fund, GIC, NVIDIA, Qatar Investment Authority, Radical Ventures, and TPG, among dozens of other investors. The company reports over $140 billion in total contracted value, more than 6 GW of gross contracted capacity, and 20x year-over-year growth in Crusoe Cloud bookings. Proceeds will fund expansion of AI factories, modular Crusoe Spark data center units, and Crusoe Cloud, supported by a workforce of over 1,800 across five countries.
A $30.9 billion valuation positions Crusoe among the most highly valued private AI infrastructure companies, signaling that investors are willing to commit capital at scale to vertically integrated models that control power generation through cloud services. The $140 billion in total contracted value and 6 GW of contracted capacity, with 1 GW already operational, reflect the pace at which large customers are locking in long-term AI compute commitments outside traditional hyperscaler channels.
Crusoe's $3.9B Series F at a $30.9B valuation is a major AI infrastructure financing event, signaling strong investor appetite for cloud/compute startups at massive scale. The valuation figure and round size rank this among the largest recent private raises in the sector.