Crusoe, an AI infrastructure startup, has raised $1.4 billion in a round led by Mubadala Capital and Valor Equity Partners. The startup’s valuation has tripled in just a year to $10 billion.
Crusoe is currently building OpenAI’s largest data center project in the United States, the Stargate complex. The campus, which is being built in Abilene, Texas, will have a capacity of 1.2 gigawatts and is scheduled to be commissioned in mid-2026.
The startup is also building a new 1.8 GW data center in Wyoming for another unnamed technology company. This capacity is planned to be increased to 10 GW in the future.
Chase Lochmiller, CEO of Crusoe, said that the demand for infrastructure in the field of AI has reached record levels, but the lack of energy is a serious obstacle. According to him, the startup's current projects have a total energy capacity of 45 GW, which is "equivalent to the energy consumption of about 8-10 New York City."
