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Mubadala Capital, a subsidiary of Abu Dhabi’s Mubadala Investment Company, has led a $1.4 billion funding round for data centre start-up Crusoe, according to a Financial Times report.
Mubadala Capital, along with US investment firm Valor Equity Partners, took the lead in the oversubscribed equity fundraising round, which has resulted in Crusoe more than tripling its valuation to over $10 billion in one year, the FT report added.
Founded in 2018, Crusoe has raised close to $3.9 billion since its inception and has partnered with OpenAi in building its first data centre in the US in Abilene, Texas which is due to be completed by mid-2026.
Crusoe’s current development pipeline amounts to 45 gigawatts of capacity, according to its CEO, Chase Lochmiller.
(Writing by Bindu Rai, editing by Seban Scaria)
