Peter Thiel's Founders Fund Leads $500M Fundraise In Waste Gas-Powered AI Cloud Start-Up

Quick Summary:

Crusoe Energy, a data center startup, has secured a $500 million equity investment led by Peter Thiel‘s Founders Fund to expand its artificial intelligence infrastructure.

What Happened: The investment round values Crusoe at approximately $3 billion, more than double its valuation two years ago, reported the Financial Times on Tuesday, citing people with knowledge of the deal.

The company, founded by Chase Lochmiller and Cully Cavness in 2018, is among the fast-growing “neocloud” industry that provides outsourced cloud computing for other tech companies to build AI.

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Category: Technology

Markets: United States

Topics: Startups NVDA $BTC $ETH Kaustubh Bagalkote Cryptocurrency Data Center US67066G1040 US68389X1054 Founders Fund BTC ORCL Equities Peter Thiel Artificial intelligence Entrepreneurship US2036121067 Benzinga Tech News

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 02:43:56 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 325 words

Reading Time: 2 minutes read

Sentences: 13 lines

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Copyright Owner: © Benzinga

News ID: 23334332

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