Crusoe (read more here) Raises $3.9 Billion and Expands Data Center Network
Crusoe has secured the initial closing of a $3.9 billion Series F round at a $30.9 billion valuation, led by Atreides Management, Mubadala Capital, and Valor Equity Partners. The Denver-based company is utilizing this substantial funding to enhance its modular data centers, which are manufactured in-house and transported to locations with surplus power.
September 17, 2026
Crusoe's co-founders, Chase Lochmiller (CEO) and Cully Cavness (President and Chief Strategy Officer), are poised to revolutionize the industry.
Modular Data Centers: A New Approach
Crusoe's innovative approach involves creating small, modular data centers, named Spark, in their factories, and then transporting them to sites with readily available power. This strategy, as reported by the Wall Street Journal, reduces construction time from years to just weeks.
Abundance Era and AI
Lochmiller envisions an era of abundance driven by AI, where controlling the infrastructure from electrons to tokens is crucial. He emphasizes that this new era requires a different approach to data centers, focusing on smaller, more efficient sites.
Rapid Growth and Expansion
Crusoe's growth is remarkable, boasting over $140 billion in total contracted value, 6GW of gross contracted capacity, and cloud bookings increasing by more than 20 times year-over-year. Their managed inference product, launched late last year, has achieved $100 million in contracted annual recurring revenue (ARR).
Global Reach and Talent
The company has a global presence, with operations in five countries and a growing workforce of over 1,800 employees. Crusoe generates revenue through the sale of data centers, GPUs, and tokens.
Board Enhancements
Crusoe recently welcomed three new independent directors: Thomas Seifert (Cloudflare CFO), Bill Stein (former Digital Realty CEO), and JB Straubel (Redwood Materials founder and former Tesla CTO). Seifert will chair the audit committee, while Straubel's expertise in energy and sustainability adds significant value.