Peter Thiel’s Founders Fund Leads $500M Fundraise In Waste Gas-Powered AI Cloud Start-Up

Crusoe Energy, a data center startup, has secured a $500 million equity investment led by Peter Thiel‘s Founders Fund to expand its artificial intelligence infrastructure.

What Happened: The investment round values Crusoe at approximately $3 billion, more than double its valuation two years ago, reported the Financial Times on Tuesday, citing people with knowledge of the deal.

The company, founded by Chase Lochmiller and Cully Cavness in 2018, is among the fast-growing “neocloud” industry that provides outsourced cloud computing for other tech companies to build AI.

The neocloud industry has been attracting significant financial backing from Silicon Valley and Wall Street investors to fund the acquisition of NVIDIA Corp‘s (NASDAQ:

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