Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, has co-led a $1.375 billion Series E funding round for Crusoe, a US-based AI infrastructure company building the next generation of AI data centers. The round pushes Crusoe's valuation beyond $10 billion — one of the largest AI infrastructure raises of 2025.
Mubadala Capital and Valor Equity Partners Lead the Round
The oversubscribed Series E was co-led by Mubadala Capital and Valor Equity Partners, with a broad coalition of strategic investors joining the round: Nvidia, Fidelity Management & Research Company, Franklin Templeton, Salesforce Ventures, Supermicro, T. Rowe Price, and Tiger Global Management.
This marks Mubadala Capital's second major investment in Crusoe, following its $350 million Series C participation in 2022 — a signal of deepening conviction in Crusoe's vertically integrated approach to AI infrastructure.
Crusoe: The AI Factory Company
Founded in 2018, Crusoe has positioned itself as a leader in vertically integrated AI infrastructure, combining clean energy sourcing, purpose-built data center construction, and a high-performance AI cloud platform under one roof.
The company's model directly addresses two of the biggest bottlenecks in AI scale-up: energy availability and compute capacity. Rather than relying on conventional utility power, Crusoe activates stranded or otherwise wasted energy to run its AI workloads.
"Crusoe is in the business of activating energy for intelligence, helping the greatest innovators of our generation build the future faster," said Chase Lochmiller, CEO and Co-Founder of Crusoe.
"Today's Series E enables us to expand our vertically integrated approach to delivering AI factories at the speed and scale needed to meet our customers' ambitions," he added. "Crusoe is uniquely positioned to provide both the physical and digital infrastructure required to produce intelligence efficiently through our Crusoe Cloud platform."
Crusoe Cloud Platform and the Atero Acquisition
The Crusoe Cloud platform is built for AI developers who need reliability without infrastructure complexity. It delivers 99.98% uptime and enterprise-grade support, and its capabilities were recently expanded through Crusoe's acquisition of Atero, a GPU management and memory optimization company.
The Atero deal accelerates Crusoe's roadmap for AI-managed services, strengthening its ability to meet surging demand for high-performance computing resources across model training, inference, and research workloads.
OpenAI Partnership and the Abilene Data Center
Crusoe has raised nearly $3.9 billion in total since inception. A landmark milestone in that journey is its partnership with OpenAI to develop a 1.2-gigawatt data center campus in Abilene, Texas — Crusoe's first major facility of this scale. The campus began operations within a year of breaking ground and is expected to be fully completed by mid-2026.
Mubadala Capital's Global AI Vision
Mubadala Capital manages over $430 billion in assets through its asset managers and strategic partnerships. Its Series E commitment to Crusoe fits squarely within a broader strategy to back transformational technologies that bridge infrastructure, sustainability, and next-generation AI innovation — a strategy closely aligned with Abu Dhabi's long-term economic diversification goals.
Earlier in 2025, Mubadala Capital and TWG Global announced a strategic investment alliance, further expanding the fund's footprint in global next-generation technology sectors.
With the Series E closed, Crusoe is poised to accelerate its data center expansion across North America and beyond, cementing its position at the forefront of AI-driven infrastructure at gigawatt scale.
