PANews reported on October 31 that according to Bitcoin.com, a vertically integrated artificial intelligence infrastructure company Crusoe Energy is raising around $500 million in equity capital from investors including billionaire Peter Thiel's Founders Fund. This funding will bring the startup's valuation to $3 billion and will be used to strengthen Crusoe Energy's AI infrastructure.
The report states that the startup's valuation has doubled in two years. Crusoe Energy announced this fundraising just weeks after announcing a $3.4 billion joint venture that will fund the construction of a dedicated data center capacity at the Lancium Clean Campus in Abilene, Texas.
Since pivoting to building data centers, Crusoe Energy has been acquiring large amounts of AI chips and leasing its cloud computing technology to AI companies. The startup also used the $200 million it raised by the end of 2023 to purchase thousands of Nvidia's H100 graphics processing units (GPUs).
