In a recent Bloomberg article Crusoe Energy Systems, a datacenter infrastructure provider which invested in Oman was said to be planning to raise new funding at a valuation near $10 billion, according to people familiar with the matter. Crusoe is set to raise about $1 billion in a mixture of equity and debt, said one of the people.

As per the article the financing could more than triple Crusoe’s valuation, which was $2.8 billion in December after the startup raised a $600 million round led by Founders Fund.

In 2023, Oman Investment Authority (OIA) took part in a $350mn equity round in Crusoe Energy Systems. Crusoe helps oil and gas producers cut flaring by using stranded natural gas to power cryptocurrency mining. Crusoe systems set up operations in Oman as well.

Today, Crusoe Energy Systems, a critical infrastructure provider of the artificial intelligence boom, plans to raise new funding at a valuation near $10 billion, a deal that would highlight the massive resources required to power AI systems. Crusoe is set to raise about $1 billion in a mixture of equity and debt, said one of the people, who asked not to be identified because the information is private.

Crusoe specializes in major AI data projects. It is the lead architect of a sprawling Abilene, Texas campus for OpenAI and Oracle Corp., part of the Stargate project.

Crusoe declined to comment. If completed, the deal could more than triple Crusoe’s valuation. In December, the startup raised a $600 million round led by Founders Fund that valued it at $2.8 billion. It has raised $2.5 billion to date from investors including Fidelity Investments, Mubadala, Nvidia Corp., Ribbit Capital and Valor Equity Partners.