Crusoea vertically integrated artificial intelligence infrastructure provider, has secured $600 million in Series D funding led by Peter Thiel‘s Founders Fundvaluing the company at $2.8 billion. The cycle involved participation from Loyalty, NVIDIA Corp. (NASDAQ: NVDA), and other investors, the company announced on Thursday.
What happened: The fund marks the Founders Fund’s latest major technology bet, following a recent $200 million cryptocurrency investment split in half. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) earlier this year.
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“The biggest danger with AI is that we don’t go far enough. Crusoe is here to free us from the island of ambition,” Thiel said in a statement.
Crusoe, founded in 2018, distinguishes itself by using waste natural gas from oil fields to power its data centers, addressing both environmental concerns and the growing demand for AI computing resources.
Why It Matters: The company recently announced plans for a new data center in Abilene, Texas, set to add $1 billion to the local economy over 20 years and create more than 800 jobs. The facility will have more than 1.2 gigawatts of capacity, making it one of the world’s largest supercomputer clusters.
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Crusoe CEO Chase Lochmiller said, “To reduce complexity, accelerate time-to-value, and support the most demanding AI solutions, customers need a unified approach.”
The financial announcement coincides with the general availability of Crusoe Cloud, the company’s high-performance cloud platform designed for AI and machine learning tasks. The number of customers has grown sevenfold in the past year, according to company data.
Founders Fund’s portfolio includes both past and current investments in such well-known companies SpaceX, Palantir, Stripe, Neuralink, OpenAI, The Boring Companyand Polymarket.
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