Crusoe Energy Systems to Raise $1 Billion in New Funding at $10 Billion Valuation

Crusoe Energy Systems, a provider of infrastructure for the AI boom, is set to raise $1 billion in a mixture of equity and debt at a valuation of near $10 billion. The company specializes in AI data projects and is the lead architect of a $12 billion Texas campus for OpenAI and Oracle Corp. The new financing is in its early stages and the amount and valuation could change.

Crusoe Energy Systems, a critical player in the artificial intelligence (AI) infrastructure space, is set to raise $1 billion in a mixture of equity and debt, with a valuation nearing $10 billion, according to sources familiar with the matter. This significant funding round underscores the substantial resources required to power AI systems and highlights the company's strategic position in the market [1].

Founded in 2018, Crusoe specializes in major AI data projects. It is the lead architect of a sprawling campus in Abilene, Texas, for OpenAI and Oracle Corp., part of the Stargate project, which is expected to cost about $12 billion to construct [1]. The company's latest move follows its acquisition of Tel Aviv-based Atero, a company specializing in managing AI computing, and the opening of its first European site in Norway earlier this year [1].

The new financing, in its early stages, could more than triple Crusoe's valuation. In December 2024, the startup raised a $600 million round led by Founders Fund that valued it at $2.8 billion. To date, Crusoe has raised $2.5 billion from investors including Fidelity Investments, Mubadala, Nvidia Corp., Ribbit Capital, and Valor Equity Partners [1].

The AI infrastructure space remains robust, supported by a highly bullish demand scenario. According to a report by Bloomberg Intelligence, the generative AI market is poised to grow to $1.3 trillion over the next 10 years, from a market size of just $40 billion in 2022 [2]. This growth is expected to drive demand for data center capacity and AI-focused infrastructure providers.

Crusoe's latest funding round comes as the AI infrastructure sector continues to attract significant investment. Vertiv Holdings Co. (VRT), Arista Networks Inc. (ANET), and Astera Labs Inc. (ALAB) are among the large AI-powered data center and cloud infrastructure developers recommended for long-term investment due to their strong market positions and growth prospects [2].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-21/ai-data-center-startup-crusoe-in-talks-for-10-billion-valuation
[2] https://finance.yahoo.com/news/buy-hold-3-ai-focused-112100827.html