AI data center company Crusoe is in talks to raise about $3 billion in a round that, if completed, could roughly triple its valuation to around $30 billion. Bloomberg reported the discussions on July 2, 2026. The final valuation has not been set and the talks are still ongoing.
Jul 2026 · Crusoe Energy Systems
"AI Factory" Crusoe in Talks to Raise ~$3B — a Deal That Could Nearly Triple Its Value to ~$30B
The energy-first data center builder — supplying AI compute to Meta and Oracle and part of OpenAI's "Stargate" — is reportedly seeking a mix of equity and debt. Terms and timing remain undetermined.
~$3B
New round being discussed (equity + debt)
~$30B
Expected post-money valuation
~3×
Jump vs the $10B+ Series E value
Valuation step-ups, drawn to scale
Post-money valuation ($B) — each column proportional to value
$2.8B
Series D
Dec 2024 · $600M
$10B+
Series E
Oct 2025 · $1.375B
~$30B
In talks
Jul 2026 · ~$3B
In under two years, the expected valuation would climb from $2.8B to about $30B.
Cost edge
30–50%
lower energy cost vs conventional clouds via a "waste energy" model
Revenue
~$998M → ~$2B
2025 estimate to 2026 forecast — roughly doubling
The vertically integrated "AI factory"
Power generation
flare / waste gas
→
GPU clusters
large-scale compute
→
Cloud services
Meta · Oracle · Stargate
Bull case
Large capacity & contract track record
Strategic backing (NVIDIA, Fidelity, Founders Fund and others)
Secondary trades above Series E price signal demand
Risks
Construction delays & cost overruns in capital-heavy builds
Sustainability concerns over oil-field gas reliance
Intensifying competition with hyperscalers
Still at the discussion stage. The final amount, valuation and investor lineup are likely to shift before any deal closes.
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