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Crusoe

Category: AI Infrastructure

A vertically integrated AI infrastructure company that provides sustainable, high-performance cloud computing by harnessing stranded energy sources like flared natural gas and renewables. Crusoe was founded in 2018. The company is led by Chase Lochmiller. Based in Denver, United States. Team size: 1000+. Total funding raised: $4.19B. Latest round: Series E. Key investors include ["Valor Equity Partners","Mubadala Capital","Founders Fund","NVIDIA","Fidelity","Bain Capital Ventures","Salesforce Ventures"].

Founded
2018
Headquarters
Denver, United States
Team size
1000+
Total funding
$4.19B

Value proposition

Reduces the environmental impact and cost of AI workloads by co-locating high-performance data centers with wasted or stranded energy sources, offering a 'climate-positive' alternative to traditional hyperscalers.

Products and solutions

["Crusoe Cloud: High-performance GPU-as-a-Service (NVIDIA H100/H200/B200 clusters)","Digital Flare Mitigation (DFM): Mobile modular data centers that convert flared gas into electricity","Managed AI Services: Managed inference and specialized software stacks for large language model (LLM) training","Stargate: Massive-scale AI data center infrastructure developed in partnership with major AI labs"]

Unique value

Crusoe is the first to achieve full vertical integration between energy production and high-performance computing, capturing 'stranded' energy that would otherwise be wasted or environmentally harmful.

Target customer

Generative AI labs (e.g., OpenAI), enterprise AI developers, energy producers (oil and gas companies), and research institutions requiring massive GPU clusters.

Industries served

["Artificial Intelligence & Machine Learning","Energy (Oil & Gas)","Renewable Energy","Cloud Computing","Blockchain & Fintech"]

Technology advantage

Proprietary modular data center technology (modular 'containers') that can be deployed rapidly in remote environments, combined with a software layer optimized for intermittent and off-grid energy sources.

How they differentiate

Crusoe differentiates through vertical integration of energy and compute. By co-locating data centers with 'stranded' energy sources (flared natural gas and renewables), they offer a carbon-negative or climate-positive footprint and lower power costs compared to traditional hyperscalers.

Main competitors

["CoreWeave","Lambda","Amazon Web Services (AWS)","Applied Digital"]

Key partnerships

["OpenAI: Major compute and infrastructure partnership for model training","Oracle: Collaboration on massive-scale AI data center projects","NVIDIA: Preferred cloud partner and recipient of significant GPU allocations","Mubadala Capital & Valor Equity Partners: Strategic investment and global scaling partners"]

Notable customers

["OpenAI","Oracle","ExxonMobil","Devon Energy","Equinor"]

Major milestones

["Secured $1.375B Series E funding at a $10B+ valuation (October 2025)","Partnered with OpenAI and Oracle for the 'Stargate' AI data center project","Launched Crusoe Cloud to provide high-performance GPU-as-a-Service","Expanded into the Middle East through a strategic partnership with Mubadala and the Oman government"]

Growth metrics

Projected to surpass $2B ARR by end of 2026; 1000+ employees; 15 gigawatts of data center pipeline.

Market positioning

Leading 'Neocloud' and specialized AI infrastructure provider, positioned as a sustainable alternative to legacy cloud giants for massive-scale LLM training.

Geographic focus

North America (primarily US shale basins like the Bakken and Permian), Middle East (Oman), and expanding globally through hyperscale partnerships.

Patents and IP

Holds multiple patents related to 'Modular Data Center Systems,' 'Systems and Methods for Digital Flare Mitigation,' and specialized power-control systems for remote computing units.

About Chase Lochmiller

Chase Lochmiller is the Co-Founder and CEO of Crusoe. Before founding Crusoe in 2018, he served as a General Partner at Polychain Capital (2016–2019), where he focused on blockchain and energy-intensive computing. His earlier career includes roles as a Quantitative Researcher at Jump Trading LLC and a Software Engineer at Facebook. He holds both a Master of Science and a Bachelor of Science in Computer Science from Stanford University.

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