Crusoe raises $3.9B to build AI data centers, hits $30.9B valuation

Crusoe, a data center and AI infrastructure company, raised $3.9 billion in new funding, valuing it at $30.9 billion. The money will fund large-scale data centers and smaller modular "AI factories."

Why it matters: The round shows investors still pouring billions into physical AI compute even as some labs talk publicly about pacing development. It adds to a wave of capital flowing into data-center buildout, a trend also visible in recent Google-Nvidia power deals and forecasts that US data centers could soon burn more gas than several major countries combined.