Post #187

Crusoe Energy just raised $1.38B Series E at $10B+ valuation — the largest AI infrastructure round this week. What it is: AI data centers powered by wasted natural gas from oil flares, reducing emissions by 63% while cutting compute costs. • $1.38B raised, led by Valor Equity Partners & Mubadala Capital • $10B+ valuation (5.6x from 2022's $1.8B) • $500M revenue in 2023, up from $30M in 2022 • 100K GPU capacity planned across new data centers • Major clients: Microsoft, OpenAI, Oracle How founders built it: • Identified wasted flare gas problem during oil field trip (2018) • Built proof-of-concept mobile Bitcoin mining centers • Secured $200M loan to buy NVIDIA H100 GPUs (2023) • Pivoted from Bitcoin to AI/ML workloads • Landed $3.4B joint venture with Blue Owl Capital • Expanded internationally to Iceland, Argentina Takeaway: Solving environmental waste can create billion-dollar infrastructure plays. Source: Crunchbase, Contrary Research Brewed by Startup Beaker.