Crusoe targets $3B pre-IPO round at roughly $30B valuation

AI infrastructure company Crusoe is reportedly negotiating a new funding round of about $3 billion that would value the business in the $30 billion range, according to multiple reports based on Bloomberg’s July 2, 2026 scoop. The round is described as a large late-stage or pre-IPO financing and remains under discussion, with no final valuation set yet, but investors cited in the reports expect the price to land around $30 billion including the new capital. This implies roughly a tripling of Crusoe’s valuation from October 2025, when it raised approximately $1.375–$1.38 billion in a Series E round at a valuation of just over $10 billion.

Public sources note that this prospective $3 billion raise follows Crusoe’s rapid funding trajectory over the past two years, including a $600 million Series D in late 2024 at a $2.8 billion valuation and the October 2025 Series E co-led by Valor Equity Partners and Mubadala Capital. That Series E attracted a broad roster of backers such as Nvidia, Salesforce Ventures, Fidelity and others, but current reporting emphasizes that no lead investors or participant names have been disclosed for the new round. Several outlets, including KuCoin and other market news services, characterize the planned financing as a pre-IPO round that could value Crusoe between $30 billion and $40 billion, signaling expectations of a potential public listing within the next couple of years. Until terms are finalized and an official announcement is made, the $3 billion amount, round structure, and approximately $30 billion valuation remain unconfirmed but well-corroborated by consistent coverage across Bloomberg-derived reports.