PANews reported on October 31 that according to Bitcoin.com, Crusoe Energy, a vertically integrated artificial intelligence infrastructure company, is receiving about $500 million in equity capital from investors including billionaire Peter Thiel's Founders Fund. The funds will value the startup at $3 billion and will be used to strengthen Crusoe Energy's AI infrastructure.

The startup’s valuation has reportedly doubled in two years. Crusoe Energy’s announcement of the funding comes just weeks after it announced a $3.4 billion joint venture to finance the construction of dedicated data center capacity at the Lancium Clean Campus in Abilene, Texas.

Since turning to building data centers, Crusoe Energy has acquired a large number of AI chips and leased its cloud computing technology to AI companies. The startup also used the $200 million it raised by the end of 2023 to purchase thousands of Nvidia's H100 graphics processing units (GPUs).