Crusoe has clinched a multiyear cloud contract with Jane Street that people with knowledge of the terms say is worth roughly $13 billion over five years. The package features groups of GPUs - high-end AI processors - along with additional equipment required to develop and operate models on Crusoe's cloud. The individuals sharing details asked not to be named because the information is private.
Jane Street is the most prominent client yet for Crusoe's cloud line, and a person familiar said the deal pulled more investors into Crusoe's latest raise. The company has been discussing bringing in about $3 billion at an around $30 billion valuation, a figure Bloomberg first reported in July. Crusoe already has agreements to provide AI compute to Meta Platforms and Oracle. Crusoe declined to comment on the matter, and Jane Street did not reply to requests for comment.
Last week, Bloomberg said Crusoe was pursuing chip financing that would be supported by its agreements with Jane Street. While Crusoe has poured much of its money into building out physical data centers, GPU rental clouds - often called neoclouds - are surging as big enterprises, including hedge funds, hunt for scarce AI hardware. Jane Street previously said it expects to allocate roughly $6 billion for CoreWeave's neocloud AI services, in addition to a $1 billion equity stake in the publicly traded provider. In April, Bloomberg said Jane Street was negotiating to co-lead a fundraising round for Crusoe rival Fluidstack at an $18 billion valuation.
When big deals make headlines, keeping a steady investment habit matters, so download the free Always Be Buying E-Book today
Big buyers like Jane Street locking in long-term AI compute - across multiple providers - helps explain why startups offering GPU capacity are drawing eye-popping valuations and aggressive funding interest. If competition for chips stays tight, contracts like this can shape who gets access to horsepower, how fast models get trained, and where the economics of AI workloads settle for everyone from tech giants to quant shops.
