Abu Dhabi-owned Mubadala Capital has increased its exposure to artificial intelligence infrastructure by participating in a new funding round for Crusoe, as the U.S. data center company secures a five-year cloud services agreement worth approximately $13 billion with quantitative trading firm Jane Street.
The investment places Mubadala Capital alongside Atreides Management and Valor Equity Partners in a transaction that reportedly raised more than $3 billion and valued Crusoe at roughly $30 billion. Atreides and Valor co-led the round, while Mubadala Capital joined as an investor, according to a report by Bloomberg.
Mubadala Builds on an Existing Investment
Mubadala Capital’s participation continues an established relationship with Crusoe rather than opening an entirely new position. In October 2025, the Abu Dhabi-based investment firm and Valor Equity Partners co-led Crusoe’s initial $1.375 billion Series E closing, which valued the company at more than $10 billion. Atreides Management also participated in that round.
Crusoe’s reported $30 billion valuation represents a sharp increase from the level disclosed less than a year earlier.
The transaction extends Mubadala Capital’s involvement in the capital-intensive infrastructure supporting generative AI. Mubadala Capital is a subsidiary of Mubadala Investment Company, the sovereign investor owned by the government of Abu Dhabi. Mubadala reported assets under management of approximately $385 billion (AED 1.414 trillion), based on its latest published figures.
Mubadala Capital operates as an alternative asset management platform with activities spanning private equity, venture capital and special-opportunity strategies. Its continued backing of Crusoe gives the Abu Dhabi investor exposure to several layers of the AI supply chain, including energy procurement, data center construction and access to high-performance computing hardware.
Jane Street Becomes a Major Cloud Customer
Jane Street’s agreement is expected to give the trading firm access to clusters of graphics processing units and related infrastructure through Crusoe Cloud. The capacity would be used for AI training and inference workloads over the five-year term, Bloomberg reported.
At roughly $13 billion, the contract would make Jane Street Crusoe’s most prominent cloud customer and provide the infrastructure provider with a substantial long-term revenue commitment.
Jane Street is best known as a technology-driven trading firm operating across global financial markets. Its demand for large-scale AI capacity illustrates how advanced computing requirements are spreading beyond technology companies and dedicated AI laboratories.
Crusoe Scales Its AI Infrastructure Footprint
Founded in 2018, Crusoe initially developed systems that captured natural gas that would otherwise be flared at oil fields and converted it into electricity for modular computing operations. Those facilities were used partly for cryptocurrency mining before the business expanded toward high-performance computing and AI infrastructure.
The company sharpened that focus in March 2025 by agreeing to sell its Bitcoin-mining operation to NYDIG. Crusoe said that the sale would allow it to concentrate on AI data centers, cloud services and energy infrastructure.
Crusoe now combines physical data center development with Crusoe Cloud, through which customers can obtain computing capacity for training and operating AI models. In June 2026, the company said it had contracted 4.9 gigawatts of AI infrastructure capacity across its data center projects and cloud platform. Its wider development pipeline exceeded 40 gigawatts.
Microsoft is among the technology companies tied publicly to Crusoe’s physical infrastructure. In March 2026, Crusoe announced plans for a 900-megawatt campus in Abilene, Texas designed to support Microsoft’s large-scale AI workloads.
Abilene Connects Crusoe to Stargate
Crusoe is also the developer behind the flagship Abilene campus associated with Stargate, the AI infrastructure initiative established for OpenAI. The company announced in September 2025 that the first phase of the campus was operating on Oracle Cloud Infrastructure.
OpenAI separately identified Abilene as its first Stargate site and said Oracle had begun delivering Nvidia systems to the facility. Early training and inference workloads were already running there by July 2025.
The Abilene development is planned to reach 1.2 gigawatts across eight buildings. Crusoe said construction of the first phase began in June 2024, while work on six additional buildings was announced in March 2025.
