AI infrastructure company Crusoe announced the initial close of a $3.9 billion Series F round on September 17, 2026, at a $30.9 billion post-money valuation, co-led by Atreides Management, Mubadala Capital and Valor Equity Partners with participation from Nvidia, GIC, Qatar Investment Authority and others. The oversubscribed round will fund Crusoe’s build-out of large, vertically integrated data-center campuses and modular “Crusoe Spark” AI factories, on top of more than $140 billion in total contracted value across its platform. The company also added three new board members, including Redwood Materials CEO JB Straubel.