AI compute company Crusoe completes $3.9 billion Series F funding, valued at $30.9 billion

AI compute infrastructure startup Crusoe has completed a $3.9 billion Series F funding round, with a post-investment valuation of approximately $30.9 billion. The round was co-led by Atreides Management, Valor Equity Partners, and Mubadala Investment Company, with participation from Founders Fund, TPG, and the Qatar Investment Authority (QIA), among others.Founded in 2018, Crusoe initially provided services to cryptocurrency miners before pivoting to AI compute infrastructure. The company previously spent two years building a large-scale AI data center in Abilene, Texas, to provide compute power for OpenAI and Microsoft. The company is now shifting toward producing a compact data center called "Spark," which involves loading prefabricated facilities onto trucks and deploying them to locations with idle power capacity to more quickly meet AI inference compute demand. (WSJ)