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Crusoe Signs $13 Billion AI Cloud Deal with Jane Street, Bloomberg News Reports
On Thursday, data center developer Crusoe signed a $13 billion, five-year cloud contract with quantitative trading firm Jane Street Group, providing clusters of GPUs and AI infrastructure for training and inference.
The five-year commitment helped Crusoe secure a new $3 billion funding round that values the company at roughly $30 billion, according to reports citing people familiar with the matter.
Quantitative trading firm Jane Street, which trades securities rather than selling software, has now contracted more AI compute capacity than most model developers, reshaping infrastructure demand.
Crusoe competes with hyperscalers like Meta Platforms and Oracle, delivering AI-optimised data center services that allow clients to bypass bidding wars for scarce compute capacity.
Founded in 2018 as a cryptocurrency business using flared natural gas, Crusoe has pivoted to building AI infrastructure, aiming to accelerate the merging of energy resources with artificial intelligence.