(Oct 24): Crusoe, which is operating a major data centre complex in Texas for OpenAI and Oracle Corp, said it has raised US$1.38 billion in equity, valuing the firm at more than US$10 billion.
The round was led by Valor Equity Partners and Mubadala Capital, the asset management arm of Abu Dhabi sovereign wealth fund Mubadala Investment Co, the company said Thursday in a statement. Other investors include Nvidia Corp Altimeter Capital, BAM Elevate, Founders Fund, Fidelity Management, Salesforce Ventures, and Super Micro Computer Inc.
Blue Owl Capital Inc, which partnered with Crusoe on the data centre in Abilene, Texas, plans to join the round at a later closing date, Crusoe said.
Founded in 2018, Crusoe specialises in big data-centre projects for artificial intelligence (AI) work. The Texas data centre is the first installation of OpenAI and Oracle’s Stargate project, unveiled with great fanfare at the White House this year. The company has also announced a Wyoming project with Blackstone-backed Tallgrass to develop a 1.8 gigawatt AI data-centre campus in southeast Wyoming, which could expand to 10 gigawatts. Crusoe chief executive officer Chase Lochmiller declined this month to name the tenant for that build-out.
Denver-based Crusoe plans to use the funds to buy new hardware and hire more employees. The company recently topped 1,000 workers.
Bloomberg reported talks for the round in August. In December, the startup raised a US$600 million round, led by Founders Fund that valued it at US$2.8 billion.
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