Crusoe builds energy-first AI infrastructure, pairing power generation with data centers purpose-built for AI compute, including modular, truck-deployable facilities. The company was founded in 2018 by Chase Lochmiller, who serves as CEO, and Cully Cavness, as President and COO, originally turning stranded natural gas into power for Bitcoin mining before pivoting toward AI cloud infrastructure.
Crusoe announced the initial closing of a $3.9 billion Series F round on September 17, 2026, at a $30.9 billion valuation, co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from Nvidia, GIC, and the Qatar Investment Authority. The funding is earmarked for expanding Crusoe's AI data center capacity as demand for training and inference compute continues to outstrip supply.