Crusoe Energy vs Lambda vs CoreWeave
Compared on what each company has disclosed: named sites, capacity, capital, GPU prices and listing, with a source beside every figure in the profiles.
Side by side
| Measure | Crusoe Energy | Lambda | CoreWeave |
|---|---|---|---|
| Index category | NeoCloud | NeoCloud | NeoCloud |
| Listing | Private | Private | NASDAQ:CRWV |
| Named sites (Capital Atlas) | 4 | 2 | 4 |
| Disclosed capacity, all sites | 4,900 MW | 24 MW | 326 MW |
| Operating or building | 1,200 MW | not stated | 250 MW |
| Disclosed site capital | $15.0B | not stated | $3.4B |
| States with named sites | TX, WY | MO, OK | GA, NJ, TX, VA |
| GPU prices tracked | 3 | 7 | 11 |
| Accelerators priced | 3 | 3 | 6 |
| Lowest H100 list price, per GPU-hour | $3.90 | $3.29 | $4.25 |
| Lowest B200 list price, per GPU-hour | not published | $6.69 | $8.60 |
| Sources cited in the Index | 2 | 2 | 2 |
Crusoe Energy
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.
Full profile: Crusoe Energy →Lambda (Lambda Labs)
Lambda has layered a $320 million Series C, a $500 million GPU-backed SPV facility led by Macquarie, a $480 million Series D, a Series E of more than $1.5 billion, and debt facilities including a $926 million term loan B, a $1 billion syndicated facility and a $275 million facility, with a $350 million pre-IPO round reportedly in talks ahead of a targeted H2 2026 IPO. Its anchor relationships include a multibillion-dollar Microsoft agreement covering GB300 NVL72 systems and a reported $1.5 billion Nvidia lease-back. Flagship US expansion is a Kansas City, Missouri deployment starting at 24MW and scaling above 100MW against a company-wide 3GW liquid-cooled ambition. On 31 August 2026 Bloomberg and The Wall Street Journal reported that Lambda had signed a $35 billion cloud agreement with Anthropic, with the capacity to run through Hut 8's Beacon Point campus in Nueces County, Texas on a lease held by Nvidia. The reports did not disclose the agreement's term, GPU count, payment schedule or computing capacity.
Full profile: Lambda →CoreWeave
CoreWeave is the largest neocloud, listed on Nasdaq in March 2025 after a $1.5 billion IPO, with $35.1 billion of total debt at June 30, 2026 and a revenue backlog of approximately $104 billion. Its capital stack spans GPU-backed delayed-draw term loans ($2.3 billion and $7.5 billion), a $650 million revolver, a $3.1 billion term loan, $3.5 billion of convertibles, an $8.5 billion Meta-secured loan facility, and a $2 billion Nvidia equity investment. Anchor contracts include approximately $22.4 billion with OpenAI, approximately $21 billion with Meta, and a $6.3 billion Nvidia capacity backstop, against a target of more than 5GW of AI factory capacity by 2030 across 33+ data centers.
Full profile: CoreWeave →Which is larger, Crusoe Energy or Lambda or CoreWeave?
By capacity disclosed at named sites, Crusoe Energy, with 4,900 MW across 4 sites. Lambda has 24 MW at 2 sites. CoreWeave has 326 MW at 4 sites.
Which publishes the lowest H100 price?
Lambda, at $3.29 per GPU-hour on its published list price. Crusoe Energy lists $3.90. CoreWeave lists $4.25.
Where do these figures come from?
Sites, capacity and capital come from the SAVRN Capital Atlas, which keeps a source link beside every figure. Prices come from the SAVRN price tracker, which reads each provider's own page or feed. The company profiles linked above carry every source.
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.