Mubadala Capital led a USD 1.4 bn Series E funding round in US-based AI infrastructure company Crusoe, alongside US tech investor Valor Equity Partners, according to a press release. The oversubscribed round pushed the company’s valuation to over USD 10 bn, up from USD 2.8 bn last year. Nvidia also took part in the funding round, alongside Franklin Templeton, Fidelity Management, SuperMicro, T. Rowe Price, and others.

The wealth fund is already heavily invested in the clean computing startup: The sovereign entity previously participated in Crusoe’s USD 350 mn series C round in 2022 and its USD 600 mn series D round in 2024. The company used the funds to invest in data centers and its cloud platform, Crusoe Cloud.

Where will the money go? The funding will enable Crusoe to expand its vertically integrated approach to delivering AI factories at the required scale and timeframe, Crusoe’s CEO Chase Lochmiller said. This plan involves buying new hardware and hiring more employees, Bloomberg reports.

About Crusoe: Founded in 2018, the company is an AI infrastructure developer that adopts a vertically-integrated model, spanning energy sourcing, hyperscale data-centre development, and its cloud platform, Crusoe Cloud. It is currently working on several data center development projects in the US, including a Texas-based 1.2 GW project and a 1.8 GW campus in Wyoming.

It’s also a Stargate player, with the Texan data center complex it operates for Oracle and OpenAI being the first installation in the USD 500 bn US Stargate initiative backed by Abu Dhabi investor MGX.

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