Crusoe anchors the Stargate buildout at Abilene, Texas through a joint venture with Blue Owl Capital and Primary Digital Infrastructure that began at $3.4 billion for a 206MW first phase and grew to a $15 billion JV funding a 1.2GW, eight-building campus, with a further 900MW Abilene campus announced in March 2026 for Microsoft bringing the site total to 2.1GW. Equity raises include a $600 million Series D at $2.8 billion and a $1.375 billion Series E first close at more than $10 billion, and a Series F of more than $3 billion at a roughly $30 billion post-money valuation reported closed on 3 September 2026, co-led by Atreides Management and Valor Equity Partners with Mubadala Capital participating. Bloomberg reported on the same day that Crusoe had signed a five-year AI cloud contract with Jane Street worth roughly $13 billion, its highest-profile cloud customer to date. Its pipeline spans 45GW, including 1.8GW in Wyoming.
Named sites
5
Site commitments on record for Crusoe Energy
Disclosed site capital
$19.8B
Named sites with a stated dollar figure. A floor, not a capex total
Disclosed capacity
4,900 MW
Named sites with a stated megawatt figure
Financing transactions
16
Transactions naming Crusoe Energy or one of its sites
Prices tracked
11
From SAVRN's research capture of Sep 10, 2026
Sources
38
Every cited page, listed below
Market
Crusoe Energy is privately held, so there is no public market data to show.
Spending
Reported and guided spending
Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent, and guidance is what management expects. They sit side by side and are never combined.
| Period | Kind | Amount | As stated | Sources |
|---|---|---|---|---|
| to date (reported Jul 2026) | raise | ~$2.8B | Total funding raised to date put at $2.77 billion by SiliconANGLE, reporting on the Bloomberg-reported ~$3B round |
Named sites
Where Crusoe Energy builds
| Site | State | Place | Capital | MW | Status | Sources |
|---|---|---|---|---|---|---|
Abilene Stargate campus (Crusoe / Blue Owl / Primary Digital JV) with Blue Owl Capital, Primary Digital Infrastructure, Oracle, OpenAI |
Texas | Abilene | $15.0B | 1,200 | construction | |
Project Hyper data center campus (Spur Buildings 1 and 2), County Road 233, Jayton with Spur DC Owner 1 LLC and Spur DC Owner 2 LLC (owners of record), HKS, Inc. (design) |
Texas | Jayton, Kent County | ~$4.8B | n.a. | proposed | |
Wyoming pipeline capacity cited October 24, 2025 |
Wyoming | n.a. | n.a. | 1,800 | announced | |
Crusoe and Lancium Childress AI data center campus with Lancium, Unnamed hyperscale technology company (tenant), HKS, Inc. (design) |
Texas | Childress, Childress County | n.a. | 1,000 | announced | |
Abilene 900MW AI factory campus (Microsoft) with Microsoft |
Texas | Abilene | n.a. | 900 | announced |
Financing
Financing transactions
Transactions that name Crusoe Energy as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed.
| Parties | Instrument | Amount | Date | Site | Sources |
|---|---|---|---|---|---|
Crusoe + Blue Owl Capital + Primary Digital Infrastructure The Abilene, Texas AI campus construction loan sits inside a $15B JV with Crusoe, Blue Owl Capital and Primary Digital Infrastructure. |
jv equity | $15.0B | reported in Newmark 2025 outlook coverage |
Abilene, Texas AI campus (TX) |
|
Crusoe Energy Systems + Jane Street Bloomberg reported on 3 September 2026 that Crusoe had signed a five-year cloud contract worth roughly $13 billion to supply Jane Street with GPU clusters and related AI infrastructure through the Crusoe cloud platform, described as Crusoe's highest-profile cloud customer to date. Press reporting places Jane Street at roughly $19 billion of contracted AI compute across Crusoe and CoreWeave combined. The atlas records this as press-reported; no company release or filing states the terms. |
other | ≥$13.0B | Reported 3 September 2026 by Bloomberg |
n.a. |
|
Crusoe Energy + Blue Owl Capital + Primary Digital Infrastructure Phase 2 funds six additional buildings to bring the Abilene campus to 1.2GW across eight buildings, each designed for up to 50,000 Nvidia GB200 NVL72s. |
jv equity | ~$11.6B | May 21, 2025 |
Abilene Stargate campus (Crusoe / Blue Owl / Primary Digital JV) (TX) |
|
Newmark (structuring) + Crusoe + Blue Owl Capital + Primary Digital Infrastructure Newmark structured the $7.1B construction loan for the 1.2 GW Abilene, Texas AI campus, eight buildings targeting 1.4 GW by 2026. |
debt facility | $7.1B | reported in Newmark 2025 outlook coverage |
Abilene, Texas AI campus (TX) |
|
Crusoe Energy On 17 September 2026 Crusoe announced the initial closing of its anticipated $3.9 billion Series F at a $30.9 billion post-money valuation, co-led by Atreides Management, Mubadala Capital and Valor Equity Partners, with investors including Founders Fund, GIC, NVIDIA, QIA, Radical Ventures, TPG, Fidelity, T. Rowe Price, Baillie Gifford, Altimeter, Tiger Global, Salesforce Ventures, StepStone and DPR Construction. Crusoe said proceeds will scale existing programs and support the build out of its own AI factories, and cited $140 billion of total contracted value, more than 6 GW of gross contracted capacity and 1 GW delivered and operational. Press reports on 3 September 2026 had described a raise of more than $3 billion at roughly $30 billion; the round was reported alongside a roughly $13 billion five-year cloud contract with Jane Street. The prior $1.375 billion Series E in October 2025 valued Crusoe at more than $10 billion |
equity raise | ≥$3.9B | Initial closing announced by Crusoe 17 September 2026; first reported by Bloomberg July 2026 and reported closed 3 September 2026 |
n.a. |
|
Crusoe Energy + Blue Owl Capital + Primary Digital Infrastructure Initial joint venture funding the Abilene first phase. |
jv equity | $3.4B | phase 1 construction began June 2024 |
Abilene Stargate campus (Crusoe / Blue Owl / Primary Digital JV) (TX) |
|
Crusoe Energy + Valor Equity Partners + Mubadala Capital Series E co-led by Valor Equity Partners and Mubadala Capital, disclosed with a 45GW pipeline, 1.2GW at Abilene and 1.8GW in Wyoming. |
equity raise | ≥$1.4B | October 24, 2025 |
n.a. |
|
Nvidia + CoreWeave + Nebius + Nscale + Lambda + Crusoe Nvidia backstops $860M of partner data center lease obligations, with $470M escrowed, across CoreWeave, Nebius, Nscale, Lambda and Crusoe. |
guarantee | $860M | Date n.a. in this part |
n.a. |
|
Crusoe Energy + Founders Fund + Fidelity + Mubadala + Nvidia + Ribbit + Valor + Crusoe Series D led by Founders Fund. |
equity raise | $600M | closed December 12, 2024 |
n.a. |
|
AMD + Crusoe + Goldman Sachs (lender) + 5C (Ohio data center developer) The Information reported, as carried by Reuters, that AMD would backstop a $300 million Goldman Sachs loan for Crusoe to buy and deploy AMD AI chips, by agreeing to lease the chips back if Crusoe cannot secure customers. The chips are being installed in an Ohio data center built by 5C, the Brookfield-backed Canadian developer. Crusoe declined to comment and AMD did not respond. |
guarantee | ~$300M | Backfill (not previously recorded). Reported by The Information and Reuters 19 February 2026; not confirmed by Crusoe or AMD |
n.a. |
|
Meta + Crusoe With Oracle and OpenAI dropping plans to expand the flagship Abilene Stargate site, Meta is in talks to pick up Crusoe capacity and reportedly paid a $150 million deposit to Crusoe to secure the site. |
other | ~$150M | Reported after the Abilene expansion was dropped |
Stargate flagship campus, Abilene (Crusoe/Lancium Clean Campus) (TX) |
|
Crusoe + Thinking Machines Lab Crusoe and Thinking Machines Lab announced a $65 million annual agreement for Crusoe Managed Inference to serve the lab's production workloads on a dedicated deployment of NVIDIA HGX B200 systems on Crusoe Cloud. Crusoe said Managed Inference has passed $100 million in contracted ARR. The release does not name the data center location. |
compute lease | $65M | Announced 23 September 2026 (GlobeNewswire) |
n.a. |
|
Crusoe + Aalo Atomics Crusoe and Aalo Atomics formed a partnership to deploy a Crusoe Spark modular data center powered by an Aalo reactor at Idaho National Laboratory in 2027, with Aalo Pods and a 50 MWe XMR power plant planned by the end of 2029 |
other | n.a. | Announced 30 July 2026 |
n.a. |
|
Energy Vault + Crusoe + City of Snyder Energy Vault broke ground on a battery-backed AI campus in Snyder, Texas, buying 10 Crusoe Spark modular data centers that Crusoe will lease back as powered shell. Phase 1 is 8 MW targeting commercial operation in the first quarter of 2027, with expansion potential to 25 MW In its Q2 2026 results on 11 August 2026 Energy Vault stated the Phase 1 commercial operation target as the first half of 2027 |
other | n.a. | Groundbreaking reported 27 July 2026 |
n.a. |
|
Crusoe + Boom Supersonic Crusoe was the launch customer for Boom Supersonic's Superpower natural gas turbine, ordering 29 units totaling 1.21 GW (42 MW each) for its AI data centers in December 2025. On 25 September 2026 Boom CEO Blake Scholl wrote on X that Crusoe and Boom are no longer launching the turbine together; Boom said it will deliver about 250 MW of turbines to other sites in 2027 and targets 1 GW in 2028. |
equipment order | n.a. | Order announced 9 December 2025; ended per Boom CEO Blake Scholl's post on X, 25 September 2026 |
n.a. |
|
Crusoe + KALiNA Distributed Power (KALiNA Power Limited) Multi-year framework agreement for Crusoe-owned and operated AI data centres co-sited with KALiNA's 170 MW near-zero-emission natural gas plants with carbon capture (Power-CCS) in Alberta, each to be developed under a separate project development agreement with an indicative tolling PPA of at least 15 years and Crusoe funding of certain interconnection security payments. Initial locations are KALiNA's Myers Energy Park, Alsike Energy Park and Crossfield Energy Park, all with AESO self-supply and export system access requests filed; Gilby and Clairmont are further sites. |
power supply agreement | n.a. | Framework agreement announced 12 February 2025 (KALiNA release via CNW) |
n.a. |
The record
Sourced facts on Crusoe Energy
- The Series E disclosure cited a 45GW pipeline, 1.2GW at Abilene and 1.8GW in Wyoming.
- Meta reportedly contracted two Crusoe data centers under construction in Texas and Missouri.
- No Abilene-specific delay was found; Crusoe publicly backed Governor Abbott's Texas data center audits and responsible growth standards in an August 8, 2026 item. Iceland and international expansion figures are n.a.
- Press reporting places Jane Street at roughly $19 billion of contracted AI compute across Crusoe and CoreWeave combined. Neither counterparty has published the contract terms.
Against the market
How Crusoe Energy prices compare
Crusoe Energy's lowest price for each GPU beside the lowest price every other tracked provider lists for the same GPU, sold the same way. Typical is the middle provider, one price each.
NVIDIA H100On demand
All NVIDIA H100 prices →Crusoe Energy$4.50per GPU-hour, on-demand
Rank13 of 216% above typical
Typical$4.25middle of 21 providers
Lowest anywhere$1.99Voltage Park
Voltage Park1. H100 (single GPU, no contract)
$1.99
GMI Cloud2. NVIDIA H100
$2.00
Vultr3. NVIDIA HGX H100 — Cloud GPU
$2.30
Denvr Dataworks4. NVIDIA H100 SXM (8 GPUs, 208 vCPU)
$2.45
Cirrascale5. 8X NVIDIA H100 (16-Node+ Clustered)
$2.49
Massed Compute6. H100 (80 GB) ×1/×2/×4
$2.73
Runpod7. H100 PCIe / H100 NVL — Pods
$2.89
Hyperbolic8. H100 SXM
$3.19
Lambda9. NVIDIA H100 PCIe
$3.29
Together AI10. H100 (80 GB), 8–256 GPUs
$3.99
Crusoe Cloud13. NVIDIA H100
$4.50
NVIDIA H200On demand
All NVIDIA H200 prices →Crusoe Energy$4.29per GPU-hour, on-demand
Rank4 of 1624% below typical
Typical$5.67middle of 16 providers
Lowest anywhere$2.60GMI Cloud
GMI Cloud1. NVIDIA H200
$2.60
Massed Compute2. H200 NVL (141 GB) ×8
$3.62
Hyperbolic3. H200
$3.99
Crusoe Cloud4. NVIDIA H200
$4.29
Runpod5. Clusters — H200 SXM
$4.31
DigitalOcean6. NVIDIA HGX H200 (141 GB)
$4.47
Cirrascale7. 8X H200
$4.54
Nebius8. NVIDIA HGX H200
$5.40
Verda9. 1x H200 SXM5 141GB
$5.95
Together AI10. H200 (140 GB), 256–1,000 GPUs
$5.99
AMD Instinct MI300XOn demand
All AMD Instinct MI300X prices →Crusoe Energy$3.45per GPU-hour, on-demand
Rank3 of 66% below typical
Typical$3.65middle of 6 providers
Lowest anywhere$1.85Vultr
Vultr1. AMD MI300X — Cloud GPU / Bare Metal
$1.85
DigitalOcean2. AMD MI300X (192 GB)
$2.59
Crusoe Cloud3. AMD MI300X
$3.45
Cirrascale4. 8X MI300X
$3.85
Microsoft Azure5. Standard_ND96isr_MI300X_v5
$6.00
Oracle OCI6. BM.GPU.MI300X.8
$6.00
Crusoe EnergyTypical $3.65
Tracked prices
Crusoe Energy prices
Every price the Index tracks for Crusoe Energy, in the provider's own words beside a normalized figure, with the date it was last checked. What AI Costs compares them across the market.
| GPU | Offer | Terms | Published price | Per GPU-hour | Change | Checked | Source |
|---|---|---|---|---|---|---|---|
| NVIDIA H100 | NVIDIA H100 | on-demandList | $4.50/GPU-hr, on-demand | $4.50 | +15.4% | Not foundOct 26, 2026 | crusoe.ai ↗ |
| NVIDIA H200 | NVIDIA H200 | on-demandList | $4.29/GPU-hr, on-demand | $4.29 | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| NVIDIA B200 | NVIDIA B200 | not publishedNot published | /GPU-hr column | Not published | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| NVIDIA GB200 NVL72 | NVIDIA GB200 | not publishedNot published | /GPU-hr column | Not published | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| NVIDIA B300 | B300 | not publishedNot published | , | Not published | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| NVIDIA GB300 NVL72 | GB300 | not publishedNot published | , | Not published | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| AMD Instinct MI300X | AMD MI300X | on-demandList | $3.45/GPU-hr, on-demand | $3.45 | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| AMD Instinct MI325X | MI325X | not publishedNot published | , | Not published | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| AMD Instinct MI355X | AMD MI355X | not publishedNot published | /GPU-hr column | Not published | No change | Not foundOct 26, 2026 | crusoe.ai ↗ |
| Seller | Model | Input | Cached input | Output | Revenue per GPU-hour at list | Other published prices | Change | Checked |
|---|---|---|---|---|---|---|---|---|
| Crusoe | DeepSeek V4 Pro | $1.74 | n.a. | $3.48 | n.a. | None published | No change | ResearchOct 21, 2026crusoe.ai ↗ |
| Crusoe | GPT-OSS 120B | $0.05 | n.a. | $0.20 | n.a. | None published | No change | ResearchOct 21, 2026crusoe.ai ↗ |
Revenue per GPU-hour is SAVRN's calculation, not a price any seller charges: the 6.83 million input and 0.85 million output tokens one Vera Rubin GPU handles in an hour in CoreWeave's measured test, billed at this model's list prices. It puts a token price beside a GPU rental price; it says nothing about how fast this model actually runs.
Sources
Sources for Crusoe Energy
Every source cited on this page, once each.
- crusoe.aiCrusoe
- crusoe.aiCrusoe
- bisnow.comBisnow
- crusoe.aiCrusoe
- tdlr.texas.govTDLR TABS Project Hyper, Spur Building 1 (TABS2027002494)
- tdlr.texas.govTDLR TABS Project Hyper, Spur Building 2 (TABS2027002499)
- datacenterdynamics.comData Center Dynamics (walled; headline attributes the filings to Crusoe)
- crusoe.aiCrusoe
- county17.comCounty 17
- crusoe.aiCrusoe
- tdlr.texas.govTDLR TABS project TABS2027000824
- tdlr.texas.govTDLR TABS project TABS2027000830
- tdlr.texas.govTDLR TABS project TABS2027000835
- finance.yahoo.comCrusoe (GlobeNewswire via Yahoo Finance)
- tdlr.texas.govTDLR TABS project TABS2024024946
- crusoe.aiCrusoe
- completeaitraining.comComplete AI Training
- bloomberg.comBloomberg
- ca.finance.yahoo.comReuters via Yahoo Finance
- datacenterdynamics.comDCD
- siliconangle.comSiliconANGLE
- bloomberg.comBloomberg
- techcrunch.comTechCrunch
- crusoe.aiCrusoe newsroom
- datacenterdynamics.comDCD
- crusoe.aiCrusoe
- finance.yahoo.comReuters via Yahoo Finance, 19 February 2026
- datacenterdynamics.comDCD
- markets.businessinsider.comCrusoe press release (GlobeNewswire via Markets Insider)
- crusoe.aiCrusoe
- techtimes.comTech Times
- powermag.comPOWER Magazine
- sec.govSEC Form 8-K (Energy Vault), Ex. 99.1
- sec.govSEC Form 10-Q (Energy Vault)
- unite.aiUnite.AI, 25 September 2026
- cryptobriefing.comCrypto Briefing, 25 September 2026
- finance.yahoo.comKALiNA Power release (CNW via Yahoo Finance), 12 February 2025
- crusoe.aicrusoe.ai
NeoCloud
More in the Index
Applied DigitalBitdeer Technologies GroupCerebras SystemsCipher Digital Inc.Core ScientificCoreWeaveCorvex, Inc.FluidstackGalaxy Digital Inc.GroqHut 8 Corp.IRENLambda (Lambda Labs)Nebius GroupNscalePoolsideSambaNova SystemsSesterceTeraWulfTogether AIVoltage ParkVultr
Capital figures come from the Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so each figure appears as its source states it and none are added into a single deployment number. Informational, not investment advice.
Sources
The SAVRN reference set
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.
Capital Atlas
Who is funding AI data centers: capital providers, named sites, financing transactions, and the blocked-and-delayed record, state by state and company by company.
Open the atlas →
Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
Open the watchlist →
Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
Open the tracker →
Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
Open the water tracker →
Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
Open the watchlist →
Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
Open the permits tracker →
SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
Open the scarcity tracker →
Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
Check an address →