Crusoe announces initial close of $3.9B Series F at $30.9B post-money valuation
- Raised
- $3.9B
- Valuation · +1004% vs Series D
- $31B
- Lead investors
- Atreides Management
- Place in VP50
- #10
What happened
Crusoe, which describes itself as a vertically integrated AI infrastructure provider, announced on September 17, 2026 the initial closing of its anticipated $3.9 billion Series F at a $30.9 billion post-money valuation. Atreides Management, Mubadala Capital and Valor Equity Partners co-led the oversubscribed round. The release also named Founders Fund, GIC, NVIDIA, Qatar Investment Authority, Radical Ventures and TPG, and listed dozens more participants, among them Robinhood Ventures Fund I, Fidelity Management & Research Company and T. Rowe Price. Crusoe said the money would help it scale existing programs and build out its own AI factories.
Bloomberg reported on September 3, citing people familiar with the situation, that Crusoe had raised over $3 billion at a valuation of roughly $30 billion. Reuters reported the $30.9 billion valuation on September 17. Forge Global, a secondary-market platform, lists the Series F at $205.97 per share, against $84.01 for the Series E of October 24, 2025, which it shows at a $10 billion post-money valuation. Those per-share figures come from Forge, not from Crusoe.
Key points
- Crusoe announced the initial closing of an anticipated $3.9B Series F on September 17, 2026.1
- The round values Crusoe at $30.9B post-money.13
- Atreides Management, Mubadala Capital and Valor Equity Partners co-led the round.1
- Bloomberg reported on September 3 that Crusoe raised over $3B at roughly $30B, per people familiar.2
- Forge lists the Series F at $205.97 per share, against $84.01 for the October 2025 Series E.3
Why it matters
Forge shows the Series E at a $10B post-money valuation in October 2025 and the Series F at $30.9B. For holders of earlier shares, the Series F sets a new, higher reference price.
The release describes the $3.9B as anticipated and the closing as initial. The amount closed so far is not given separately in the sources read.
The release names three co-leads, six other backers and dozens of further participants, including large fund managers and Robinhood Ventures Fund I. It gives no per-share terms, so the Series F price shown by Forge is not confirmed by Crusoe.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Apr 21, 2022 | $1.8B | $350M | G2 Venture Partners |
| Series D | Dec 12, 2024 | $2.8B | $600M | Founders Fund |
| Series F | Sep 17, 2026 | $31B | $3.9B | Atreides Management, Mubadala Capital, and Valor Equity Partners |
Updated
Fact-check
- Crusoe announced the initial closing of an anticipated $3.9B Series F at a $30.9B post-money valuation on September 17, 2026.Confirmed by [1] Crusoe: the release, dated September 17, 2026, announces the initial closing of its anticipated $3.9 billion Series F at a $30.9 billion post-money valuation.Verified
- Atreides Management, Mubadala Capital and Valor Equity Partners co-led the round.Confirmed by [1] Crusoe: the release names the three firms as co-leads.Verified
- Bloomberg reported on September 3, 2026 that Crusoe raised over $3B at a valuation of roughly $30B.[2] Bloomberg returned 403 to the checker. The writer's extract says Crusoe raised over $3 billion at roughly $30 billion, according to people familiar with the situation, and the article's headline in the event data gives over $3 billion at $30 billion.Verified
- Reuters reported the valuation as $30.9B on September 17, 2026.[4] Reuters could not be read by the writer or the checker; this rests on its headline in the event data, which gives a $30.9 billion valuation, consistent with [1] Crusoe.Partly verified
- Forge lists the Series F at $205.97 per share and the October 24, 2025 Series E at $84.01 per share and a $10B post-money valuation.[3] Forge Global returned 403 to the checker. The writer's extract of its round table shows Series F $205.97 and Series E, dated 10/24/2025, $84.01 and $10B; the research evidence gives the same per-share figures. These are Forge figures, not Crusoe's.Verified
- Crusoe said the funds will help scale existing programs and build its own AI factories.Confirmed by [1] Crusoe: the release says the capital will help scale its existing programs and build out its own AI factories.Verified
Sources
- [1]Crusoe (opens in a new tab)Crusoe Raises $3.9B Series F at a $30.9B Valuation
- [2]Bloomberg (opens in a new tab)Crusoe Raises Over $3 Billion in Funding at $30 Billion Valuationhas raised over $3 billion in a funding round that values the startup at roughly $30 billion
- [3]Forge Global (opens in a new tab)Buy And Sell Crusoe Stock
- [4]Reuters (opens in a new tab)AI infrastructure provider Crusoe valued at $30.9 billion in latest funding round
