Crusoe Raises $1.38 Billion to Expand AI Data Centers

November 10, 2025
Crusoe has raised $1.38 billion in a Series E funding round at a $10 billion valuation, co-led by Valor Equity Partners and Mubadala Capital. The funds will support expansion of its AI data center projects, including a major Texas campus for OpenAI.

Crusoe has raised $1.38 billion in a Series E funding round at a valuation of about $10 billion, reports Reuters. The round was co-led by Valor Equity Partners and Mubadala Capital, with participation from Nvidia, Fidelity Management, and Founders Fund.

The Denver-based company said the funds will accelerate its buildout of large-scale AI data centers. Crusoe has raised approximately $3.9 billion since its founding in 2018 and was involved in constructing OpenAI’s first major U.S. data center.

Crusoe recently brought the first phase of its 1.2-gigawatt data center campus in Abilene, Texas, online, one year after construction began. The company also operates additional large-scale infrastructure projects, including a 1.8-gigawatt campus in Wyoming.

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