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Crusoe raises $3.9B to build massive data centers and small modular “AI factories”

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Data center developer Crusoe said Thursday it raised $3.9 billion in a Series F round that pushes its valuation to $30.9 billion. The massive round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners. Founders Fund, GIC, Nvidia, Qatar Investment Authority (QIA), Radical Ventures, and TPG also participated, according to Crusoe.

Crusoe also announced three new board members, including Cloudflare CFO Thomas Seifert, Bill Stein, partner and CIO at Primary Digital Infrastructure, and Redwood Materials founder and CEO JB Straubel, who also sits on Tesla’s board. Straubel already has ties to Crusoe; he personally invested in the company in 2021, and Crusoe later became the first customer of Redwood’s energy storage business.

The eight-year-old company’s fresh capital infusion will help finance existing data center projects, including a large site in Abilene, Texas, used by OpenAI, as well as smaller, modular AI factories that can be transported by truck and connected to large power sources almost anywhere.

By manufacturing these modular data centers, called Spark, at its own facilities, Crusoe can deploy compute capacity quickly and without the need for large construction workforces. The smaller centers could also help Crusoe sidestep, at least in part, another major obstacle facing data center developers: backlash from local communities protesting massive complexes near their neighborhoods.

Crusoe co-founder and CEO, who is pictured above, said in a statement he believes AI will usher in an era of abundance, but to get there will mean “controlling the infrastructure from electrons to tokens, and we’re grateful to have investors who share that conviction.”

The company makes money by leasing data center space to customers that bring their own GPUs, by renting out its own GPUs, and by selling compute power used to run AI models, known as inference.

This three-pronged business model has helped make Crusoe one of the most valuable AI infrastructure companies. Crusoe recently signed a massive $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure, Bloomberg reported.

The company recently met with investment bankers, including Goldman Sachs and Morgan Stanley, to discuss a potential IPO in the near future, Axios reported last month. 

The fresh fundraise comes 10 months after Crusoe raised $1.38 billion at a $10 billion valuation last October.

The company was founded in 2018 as a crypto mining operation powered by flared natural gas, but pivoted to AI infrastructure as demand for computing power skyrocketed. Crusoe’s customers include Meta, Microsoft, and Oracle.

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Health

Six climate measures could save 1.6 million lives yearly – WHO

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Six proven climate and health interventions could prevent 1.6 million deaths annually and generate trillions of dollars in economic benefits if implemented globally, the World Health Organisation (WHO) has revealed.

The measures, which include heat-health warning systems, access to safe water and sanitation, cleaner household energy and more efficient fossil fuel pricing policies, could generate $3.9 trillion in annual economic welfare benefits and a further $5.4 trillion in fiscal gains.

The WHO disclosed this in a new report titled ‘Global benefits and costs of prioritised actions on climate change and health’, released ahead of the 31st United Nations Climate Change Conference (COP31), where countries are expected to present their climate commitments.

According to the report, the six interventions could prevent one in every 40 deaths globally, based on modelled projections, while avoiding 16.7 billion tonnes of carbon dioxide emissions annually.

The estimated emissions reduction is equivalent to 31 per cent of global annual greenhouse gas emissions, excluding emissions from land use, land-use change and forestry.

The report, which the WHO described as its first comprehensive assessment of the economic and fiscal returns from scaling up the six recommended interventions, highlights the potential health and financial gains of integrating public health considerations into climate policies.

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It argues that many health consequences of climate change are preventable through existing solutions, but governments must implement them across health and other sectors that determine people’s health.

Six interventions

The report identifies six interventions: heat-health warning systems, climate-resilient drinking-water services, basic sanitation services, hygiene and handwashing facilities, cleaner household fuels and technologies for cooking and heating, and efficient fossil fuel pricing policies.

The WHO estimates that five of the interventions could generate $24 in benefits for every $1 invested, with returns expected to be greater in low- and middle-income countries.

Heat-health warning systems are projected to deliver particularly high returns, generating an estimated $835 in benefits for every $1 invested.

The report attributes the high returns to the relatively low cost of expanding existing warning systems and their potential to prevent heat-related illnesses.

Efficient fossil fuel pricing policies, however, are projected to deliver the largest overall gains.

Such policies, including removing inefficient fossil fuel subsidies and appropriately taxing fossil fuels, could prevent 1.2 million deaths annually while generating $3 trillion in economic welfare benefits and $5.4 trillion in fiscal gains.

Health at the centre of climate action

Commenting on the findings, WHO Director-General Tedros Ghebreyesus said the climate crisis was also a health crisis, but many of its consequences could be prevented using existing interventions.

READ ALSO: WHO raises alarm as 75% of diabetes cases in Africa remain undiagnosed

He said expanding proven and affordable interventions could save millions of lives, particularly in countries with the greatest need.

“The climate crisis is a health crisis, but much of the harm it causes can be prevented with tools we already have,” he said.

Mr Ghebreyesus urged governments to place health considerations at the centre of climate action as they prepare for the next round of international climate negotiations.

The WHO said countries were already experiencing record-breaking climate shocks in 2026, investing in measures that protect human health and the environment increasingly urgent.

The health body called on governments, development partners and financing institutions to use the economic evidence to scale up the interventions, noting that they could deliver simultaneous benefits for public health, climate mitigation and national economies.


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Duru emerges Imo SDP acting chairman

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The Social Democratic Party, SDP, Imo State chapter, has appointed Robinson Nwachukwu Duru as its acting chairman following a resolution by the party’s chairmen forum, comprising all LGA chairmen across the state’s 27 local government areas.

In a press statement issued after a meeting held recently in Owerri, the forum’s secretary, Anthony Opara, said Duru’s appointment was necessitated by the manner in which the former State Executive Committee was managing the affairs of the party.

He added that the inability of the State Working Committee, SWC, to provide effective leadership prompted the forum to pass a vote of no confidence in all its members over alleged gross incompetence.

Opara said that, to fill the leadership vacuum, the forum unanimously appointed Duru, who was the party chairman in Nkwerre LGA, as acting state chairman, while he was appointed acting secretary.

The SDP said the new leadership had been mandated to oversee the affairs of the party and reposition it for future political participation.

The forum also condemned what it described as anti-party activities, including wearing the insignia of other political parties to SDP meetings, warning that such conduct would no longer be tolerated.

It urged members to remain committed, saying the party was working to ensure that a credible candidate emerged as its flag bearer in the next governorship election in the state.

Duru emerges Imo SDP acting chairman

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