Crusoe Energy closes funding round with $600m

Crusoe Energy has closed its Series D funding round with $600 million. The round valued Crusoe at $2.8 billion, less than the $3 billion the company originally aimed for. The investment was led by venture capital firm Founders Fund, and others including Fidelity, Long Journey Ventures, the United Arab Emirates sovereign wealth fund Mubadala, Nvidia, Ribbit Capital, and Valor Equity Partners.

“We believe a new approach is needed to power the AI revolution,” said Chase Lochmiller, CEO and co-founder of Crusoe. “To reduce complexity, accelerate time-to-value, and support the most demanding AI solutions, customers need a vertically integrated approach. We are able to innovate faster and bring new, state-of-the-art capacity online in a fraction of the time compared to legacy cloud providers while delivering unmatched results for customers, making the promises of AI a reality.”

The lead investor of Crusoe - Founders Fund - was launched by Peter Thiel, also founder and chairman of Palantir Technologies, a company previously accused by whistle blower Edward Snowden of playing a role in creating the US government's international spy program, PRISM. Palantir denies any connection.