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.

IN OTHER MUBADALA NEWS-

Mubadala backs AAF’s USD 55 mn hybrid venture fund: Abu Dhabi’s Mubadala Investment Company backed US-based venture capital firm AAF Management’s latest USD 55 mn fund, according to a press release. Family offices from MENA, the US, and Europe, as well as general partners from US firms, also anchored the funding alongside Mubadala.

About the fund: The Axis Fund targets emerging managers and funds overseeing promising startups and firms at the pre-IPO and pre-seed stage. The fund has already backed 25 pre-seed and seed-stage funds alongside making five direct investments.

AAF now has a total of USD 250 mn in assets across four funds, and plans to invest 80% of its capital in startups and the remaining 20% in emerging funds, TechCrunch reports. AAF has made 138 investments since 2016, backing five companies which have since become unicorns. It focuses primarily on firms in the tech, fintech, healthcare, enterprise software, and deep tech sectors.

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