AI startup Crusoe Energy is raising $500 million at a $3 billion valuation

AI infrastructure company Crusoe Energy is about to complete a $500 million equity financing, led by billionaire Peter Thiel's Founders Fund. This round of financing values the company at $3 billion, double its value two years ago. Just a few weeks ago, Crusoe Energy announced a $3.4 billion joint venture agreement with Lancium Clean Campus to build a data center in Texas.

Crusoe Energy has already completed a $200 million financing and purchased thousands of Nvidia H100 GPUs by the end of 2023. According to PitchBook's report, 40% of the $93 billion venture capital spending in the first half of 2024 flowed to AI companies. Founders Fund has been involved in the company's financing since the seed round in 2019, and the fund has also invested in OpenAI, which is valued at more than $157 billion.