Crusoe has been granted a $750 million credit facility to advance and develop its artificial intelligence operations. The financing will support both its cloud platform and purpose-built data centers, particularly with the growth, scaling and development of these segments.
Crusoe's data center footprint spans 4.2 million square feet across 1.35 gigawatts, according to the company. This includes one of the largest facilities globally, located in Abilene, Texas, which is supported by a $15 billion joint venture with Blue Owl Capital and Primary Digital Interactive.
Brookfield Asset Management is providing the credit facility, while Eastdil Secured represented Crusoe on the deal.
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"The demand for AI infrastructure is growing exponentially, and this new credit facility from Brookfield provides us with the capital needed to accelerate the buildout of new AI factories," Chase Lochmiller, CEO and co-founder of Crusoe, said in a statement.
"Brookfield’s commitment validates Crusoe’s demonstrated ability to rapidly develop and deliver critical infrastructure to the largest AI projects in the world. This funding will enable us to expand our footprint, and continue to provide our customers and partners with the best-in-class solutions they need to innovate and scale."
This marks just the latest financing for Crusoe. Recently, the Denver-based firm fetched $600 million from a Series D funding round and received a $225 million credit facility from Upper90 Capital Management, LP.
But Crusoe's financing won't outshine Amazon's news in the data center space this week, as the e-commerce giant announced it would pour $20 billion to expand its presence in Pennsylvania. The investment marks the largest that the Keystone State has received from the private sector on record.
Another big move in the alternative asset class this year included EDGNEX Data Centers by DAMAC announcing it would enter the U.S. market with a $20 billion investment, which breaks down to existing data centers and platforms. Additionally, EDGNEX noted that there is potential to double its initial $20 billion pledge. Also, PGIM Real Estate has raised $2 billion from its Global Data Center Fund, with a goal of deploying a "build-fill-sell" strategy, designed to maximize returns.
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Anthony Russo
Anthony Russo has been contributing to GlobeSt. since July 2024. Along with CRE, his financial background expands to capital markets, the economy, and consumer issues. Previously, he has written for CapitalWatch and was a senior reporter for The US Sun.
