Crusoe Initial Close: $3.9B Series F at $30.9B Post-Money

Crusoe announced on September 17, 2026 the initial closing of an anticipated $3.9 billion Series F at a $30.9 billion post-money valuation. The company GlobeNewswire called the round oversubscribed. Co-leads: Atreides Management, Mubadala Capital, and Valor Equity Partners.

Initial closing is the company's phrase. The release does not say the full $3.9 billion is closed.

Who is on the cap table

The same wire names significant backing from new and existing investors including Founders Fund, GIC, NVIDIA, Qatar Investment Authority (QIA), Radical Ventures, and TPG.

Additional named investors on that release, listed as non-exhaustive, include 1789 Capital, Altimeter, ARK Invest, Baillie Gifford, Fidelity Management & Research Company, Ribbit Capital, Salesforce Ventures, SemiAnalysis, and Tiger Global, plus Activate Capital, Avenir, BAM Elevate, BDT & MSD Partners, Clal Insurance and Finance, Darsana, DPR Construction, Era Funds, Fundrise, Galvanize, M37, OIA, Polychain Capital, Robinhood Ventures Fund I (RVI), Squarepoint Capital, StepStone Group, accounts advised by T. Rowe Price Associates, Upper90, Van Eck, XN, and Zigg Capital.

Company-reported scale. Not independently verified here.

Crusoe put these operating figures on the Series F wire. They are company claims:

• $140 billion+ total contracted value (TCV) across the vertically integrated platform.
• 6 GW+ gross contracted capacity across data centers and cloud, including 1 GW gross capacity delivered and operational.
• 20x+ year-over-year growth in Crusoe Cloud bookings year to date.
• Crusoe Managed Inference, launched late last year, has contracted over $100 million in ARR.

The same release also claims up to 9.9x faster time-to-first-token and 5x higher throughput versus vLLM on Crusoe's inference engine. That comparison is the company's. The wire adds Gartner Magic Quadrant Visionary, #1 inference speed on Artificial Analysis, and NVIDIA Exemplar Cloud as independent recognition it wants attached to the raise.

Spark: factory-built modules, years-to-weeks on the wire

Crusoe Spark is the company-manufactured modular data center line. GlobeNewswire says Spark deployments shorten field construction from years to weeks and let customers add capacity in increments. That timeline is a company construction claim, not a third-party schedule.

The Series F release does not give a Colorado factory output number. Capacity, covering the raise, reports that Crusoe's Colorado manufacturing facility has the potential to produce up to 1 GW of Spark capacity per year, and that Spark units are already operational in Nevada. Treat the 1 GW/year figure as secondary coverage, not a GlobeNewswire number.

What TechCrunch adds that the wire does not

TechCrunch says the new capital will help finance existing projects, including a large Abilene, Texas site used by OpenAI, plus the truck-deployable Spark modules. The company wire discusses Abilene and OpenAI in a separate, stronger claim that Ultrathink is not repeating as fact.

TechCrunch also names three new directors: Cloudflare CFO Thomas Seifert; Bill Stein, partner and CIO at Primary Digital Infrastructure; and Redwood Materials founder and CEO JB Straubel. A same-day Crusoe GlobeNewswire identifies Stein as Digital Realty's former CEO. Both descriptions can be true; they are different labels on the same appointment.

The prior raise, per TechCrunch: $1.38 billion at a $10 billion valuation last October. TechCrunch, citing Bloomberg, also reported a $13 billion, five-year Jane Street cloud contract. That Bloomberg figure is not on the Series F company wire. Do not treat it as a GlobeNewswire fact.

“Getting there means controlling the infrastructure from electrons to tokens, and we’re grateful to have investors who share that conviction.”

Chase Lochmiller, co-founder and CEO of Crusoe, on the September 17 company GlobeNewswire. The distinguishing facts on that paper remain the initial close, the $3.9 billion anticipated round size, the $30.9 billion post-money valuation, and the three co-leads.

This article was ultrathought.