Crusoe Energy

Crusoe Energy Raises $500 Million in Growth Funding - October 2024

Executive Summary

Crusoe Energy raised $500 million led by Peter Thiel's Founders Fund to build AI-optimized data centers powered by natural gas, with major contracts from OpenAI and Oracle.

Funding Amount: $500 Million

Valuation: $3 Billion

Round Type: Growth Funding

Announced: October 2024

Headquarters: Denver, CO

Category: Data Centers / Energy

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About Crusoe Energy

Crusoe Energy was founded in 2018 and is headquartered in Denver, CO. The company currently employs 300+ people and operates in the Data Centers / Energy sector.

Crusoe Energy raised $500 million led by Peter Thiel's Founders Fund to build AI-optimized data centers powered by natural gas, with major contracts from OpenAI and Oracle.

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Funding Round Details

Investment Amount

Crusoe Energy successfully raised $500 Million in this Growth Funding funding round, announced in October 2024.

The round valued the company at $3 Billion post-money.

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Lead Investors & Participants

Founders Fund (Lead Investor): Peter Thiel's venture capital firm

Felicis Ventures (Venture Capital): Existing investor in growth companies

Fidelity (Institutional Investor): Major asset management firm

NVIDIA (Strategic Investor): AI chip manufacturer

Salesforce Ventures (Corporate VC): Strategic technology investor

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Use of Funds

Building massive AI data centers including a $3.4 billion facility in Abilene, Texas for Oracle/Microsoft/OpenAI, and expanding energy-efficient infrastructure.

The capital will enable Crusoe Energy to:

• Accelerate product development and innovation
• Expand market reach and customer acquisition
• Scale operations and infrastructure
• Strengthen the team with key hires
• Invest in research and development

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Key Metrics & Achievements

• $3.4 billion joint venture with Blue Owl Capital
• Contracts with OpenAI, Oracle, and Microsoft
• Operates data centers using stranded natural gas
• Reduces methane emissions by 63% compared to venting
• Growing rapidly in AI infrastructure market

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Business Model

Crusoe builds and operates data centers powered by stranded or wasted natural gas, providing low-cost, sustainable computing infrastructure for AI training and cloud computing.

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Market Opportunity & Competition

Competes with traditional data center providers (Equinix, Digital Realty) and hyperscale cloud providers (AWS, Microsoft Azure, Google Cloud) in AI infrastructure.

The Data Centers / Energy market continues to experience rapid growth, with increasing demand from enterprises and consumers. Crusoe Energy is well-positioned to capitalize on this opportunity with its differentiated technology and strong investor backing.

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What This Means for the Industry

This significant funding round demonstrates strong investor confidence in Crusoe Energy's vision and execution. The $500 Million investment positions the company to:

1. Accelerate Innovation: Develop next-generation products and features
2. Expand Market Leadership: Capture greater market share in Data Centers / Energy
3. Scale Operations: Build infrastructure to support rapid growth
4. Attract Top Talent: Recruit world-class engineers, researchers, and business leaders
5. Drive Industry Transformation: Shape the future of Data Centers / Energy

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Company Background

Founded: 2018

Headquarters: Denver, CO

Employees: 300+

Industry: Data Centers / Energy

Total Funding: $500 Million+ (this round)

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Looking Ahead

With this substantial funding, Crusoe Energy is positioned for continued growth and innovation in the Data Centers / Energy space. The company plans to leverage the capital to expand its market presence, enhance its product offerings, and solidify its position as a leader in the industry.

Investors and industry analysts will be closely watching Crusoe Energy as it executes on its ambitious growth plans and works to deliver value to customers and shareholders.

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About the Investors

Founders Fund: Peter Thiel's venture capital firm

Felicis Ventures: Existing investor in growth companies

Fidelity: Major asset management firm

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This funding announcement was verified through official press releases, SEC filings, and credible news sources including Crunchbase, TechCrunch, and Bloomberg.

Last Updated: October 26, 2025