Crusoe Energy Systems LLC (“Crusoe”) announced today a significant expansion of its Cloud business. Equipped with new capacity online and additional financing earmarked for further GPU purchases, Crusoe’s latest move marks an important milestone in the next phase of its mission to reduce the environmental impact of computing and provide customers with a reliable, sustainable, and cost-effective solution for AI workloads. This is a key moment for Crusoe as it works to make clean computing solutions available at scale in the burgeoning artificial intelligence space.
The new capacity includes NVIDIA H100 Tensor Core GPUs delivering an order-of-magnitude leap in performance to power AI, as well as additional NVIDIA A100 TensorCore GPUs, connected with high-speed NVIDIA Quantum-2 InfiniBand networking, supporting market leading levels of reliability and performance. Crusoe Cloud’s new capacity is coming online at a time when the entire compute infrastructure market is constrained due to burgeoning demand from AI/ML workloads, and Crusoe is excited to support this fast-growing market.
Furthermore, to support continuous growth and additional capacity availability in the coming months, Crusoe is announcing a commitment from investment firm Upper90 for asset-backed financing for the purposes of securing additional GPUs. Crusoe previously closed a $350 million Series C equity offering in 2022. The Series C was led by climate technology venture capital firm G2 Venture Partners (G2VP), in line with the fund’s mandate to scale technologies that economically decarbonize large existing industries. The most recent debt financing from Upper90 will allow Crusoe to continue rapid investment in the infrastructure needed to scale its AI cloud offering. The additional GPU capacity is expected to be available to customers in Q1 of 2024.
With this next phase of Crusoe Cloud’s growth, Crusoe continues to advance the future of climate-aligned computing by expanding capabilities and access to a broader market, including major enterprise customers.