Crusoe raises $3B at $30B valuation after Jane Street deal

Data center developer Crusoe reportedly raised $3 billion at a $30 billion valuation. The round reportedly came together after Crusoe secured a $13 billion contract with trading firm Jane Street.

Why it matters: Crusoe's valuation jump shows AI-infrastructure builders are commanding valuations closer to model labs than construction firms, funded by direct compute-purchase commitments rather than cloud reselling deals. A quantitative trading firm signing a $13 billion data center contract also signals AI compute demand extending well beyond the usual hyperscaler and lab customers.