Crusoe Energy is a startup focused on building data centers for large enterprises such as Oracle, Microsoft, and OpenAI.
Recently, the company submitted a filing to the U.S. Securities and Exchange Commission (SEC) indicating that it is in the process of raising a total of $818 million, with $686 million already received. This funding round has attracted participation from 70 investors.
Image Source Note: Image generated by AI, image licensed from service provider Midjourney
According to reports, earlier this year, Crusoe engaged in negotiations for about $500 million in funding with Peter Thiel's Founders Fund, with participation from Felicis Ventures. Due to investor interest in a larger funding amount, the company expects to raise funds at a valuation higher than the previously set $3 billion. If Crusoe successfully raises $818 million, its total funding will reach approximately $1.5 billion, including previous debt financing.
Founded in 2018, Crusoe originally operated as a cryptocurrency company, utilizing natural gas to power its data centers—gas that would otherwise be flared and wasted. With the rise of artificial intelligence, Crusoe has gradually transformed, forming agreements with several AI companies to provide high-performance computing and AI infrastructure. Recently, the company announced a joint venture agreement worth $3.4 billion with asset management firm Blue Owl Capital to build a large data center in Abilene, Texas, which is expected to be leased to Oracle and subsequently used by Microsoft and its partner OpenAI.
In the rapidly evolving landscape of AI and cloud computing, the market demand for "new cloud" startups has surged. For example, GPU infrastructure provider CoreWeave currently has up to $12.7 billion in available funding. Other companies like Lambda Labs and Together AI have also secured significant financing, further driving growth in this sector. However, the environmental impact of this large-scale construction cannot be overlooked; IDC predicts that global data center electricity consumption will double between 2023 and 2028, while Morgan Stanley indicates that data center technology providers will generate emissions equivalent to 2.5 billion metric tons of CO2 by 2030.
Chase Lochmiller, CEO of Crusoe, stated in a recent interview that although there are concerns about the energy consumption of AI, AI itself can be key to solving this issue. He believes that AI will drive scientific breakthroughs, leading to a low-cost and sustainable energy future.
Key Points:
🌟 Crusoe Energy is raising $818 million and has currently secured $686 million.
🚀 The company is transitioning from cryptocurrency to AI infrastructure provider, partnering with several large enterprises.
🌍 The environmental impact of data center construction is significant, and there is increasing industry focus on sustainability.
