Atreides, Valor, and Mubadala co-led a funding round for AI infrastructure developer Crusoe to accelerate its modular data center strategy. The $3.9 billion raise assigns the firm a post-money valuation of about $30.9 billion. This capital supports the construction of the Crusoe Spark factory in Brighton and the procurement of GPUs and tokens to vertically integrate its AI stack.

The company is shifting focus toward factory-built data centers after establishing its reputation with one of the world's largest AI supercomputers. This modular approach allows Crusoe to monetize every layer of infrastructure, from the facility design to the computing tokens used by customers.