Crusoe Secures Reported $13 Billion AI Cloud Contract With Jane Street

Data center firm Crusoe has secured a cloud contract with quantitative trading giant Jane Street Group valued at approximately $13 billion over five years, according to a report from Bloomberg citing people familiar with the matter.

Deal Details

The agreement will provide Jane Street with access to Crusoe’s cloud platform, which includes clusters of advanced artificial intelligence chips known as GPUs (graphics processing units). This infrastructure is critical for the intensive computational workloads required for AI model training and inference.

According to the report, the deal establishes Jane Street as the most prominent client for Crusoe's burgeoning cloud business. The company also supplies AI computing power to major technology firms such as Meta Platforms Inc. and Oracle Corp.

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Strategic Implications

This major contract provides a significant boost to Crusoe's business and its current fundraising activities. The deal with Jane Street reportedly attracted additional investor interest in the company's latest financing round.

Bloomberg had previously reported in July that Crusoe was in discussions to raise approximately $3 billion at a valuation of around $30 billion. Last week, the publication also noted that the company was seeking a chip-backed loan, with the Jane Street contracts serving as collateral, highlighting the strategic importance of this customer relationship.