Crusoe announces a $3.9 billion Series F at a $30.9 billion valuation

On 17 September 2026 Crusoe said it had done the initial closing of its anticipated $3.9 billion Series F round at a $30.9 billion post-money valuation, co-led by Atreides Management, Mubadala Capital and Valor Equity Partners. Crusoe said it has over $140 billion of total contracted value and more than 6 GW of gross contracted capacity, of which 1 GW is delivered and operating today, and that its managed inference product has contracted over $100 million of annual recurring revenue. It said the money will help scale existing programs and build its own AI factories. We file this because the company ties the round to AI infrastructure in its own words and gives hard figures. How we read it: by Crusoe's own figures, far more capacity is contracted than running. What would change this: delays in bringing contracted capacity online. Why it matters to you: funding like this decides how fast the data centers behind AI services get built.