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Crusoe Secures $750 Million Credit Facility from Brookfield to Accelerate the Development of Energy-First AI Factories
Crusoe Secures $750 Million Credit Facility from Brookfield to Accelerate the Development of Energy-First AI Factories

Business Upturn

time11-06-2025

  • Business
  • Business Upturn

Crusoe Secures $750 Million Credit Facility from Brookfield to Accelerate the Development of Energy-First AI Factories

DENVER, June 11, 2025 (GLOBE NEWSWIRE) — Crusoe , the industry's first vertically integrated AI infrastructure provider, today announced it has secured a $750 million credit facility from Brookfield Asset Management, through its infrastructure debt platform. This significant financing will primarily be deployed to fuel the continued growth and scaling of Crusoe's development of AI factories, including purpose-built AI data centers and Crusoe's AI cloud platform. It further solidifies Crusoe's position as a leader in providing energy-first AI infrastructure. 'The demand for AI infrastructure is growing exponentially, and this new credit facility from Brookfield provides us with the capital needed to accelerate the buildout of new AI factories,' said Chase Lochmiller, CEO and co-founder of Crusoe. 'Brookfield's commitment validates Crusoe's demonstrated ability to rapidly develop and deliver critical infrastructure to the largest AI projects in the world. This funding will enable us to expand our footprint, and continue to provide our customers and partners with the best-in-class solutions they need to innovate and scale.' 'We are excited to partner with Crusoe, a company at the forefront of powering the critical infrastructure needed for AI, including one of the world's largest AI data centers in Abilene, Texas,' said Eric Wittleder, Deputy CIO of Brookfield's Infrastructure Debt business. 'Crusoe's ability to provide backbone infrastructure solutions at scale aligns perfectly with our investment philosophy, and we look forward to supporting their continued expansion and impact in the rapidly evolving AI landscape.' This new financing follows Crusoe's recent momentum, including its $600 million Series D funding round in December 2024, a $225 million credit facility from Upper90 announced in early 2025 to support the growth of its AI cloud infrastructure, and a $15 billion joint-venture with Blue Owl and Primary Digital Interactive to fund a 1.2 gigawatt AI data center in Abilene, Texas. The $750 million credit facility from Brookfield marks another significant milestone in Crusoe's journey to meet the growing global demand for AI compute capacity. Eastdil Secured represented Crusoe as its exclusive financial advisor on the transaction. About Crusoe Crusoe is on a mission to align the future of computing with the future of the climate. Crusoe provides a reliable, scalable, cost-effective, and environmentally friendly solution for AI infrastructure by harnessing large-scale clean energy, building AI-optimized data centers, and empowering builders to reach their AI potential. Crusoe is empowering the AI revolution. To learn more, visit . About Brookfield Asset Management Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles. For more information, please visit our website at About Eastdil Secured As the most relevant and trusted advisor in the commercial real estate capital markets, Eastdil Secured creates value for clients through creative, actionable ideas and flawless execution. With an unrivaled combination of capital markets expertise and in-depth understanding of real estate fundamentals, Eastdil Secured delivers best-in-class advice on mergers and acquisitions, sales, joint ventures, debt placement, structured credit and loan sales to investors around the world. Headquartered in New York, Eastdil Secured has a broad global footprint to support clients with offices across the United States in Atlanta, Boston, Charlotte, Chicago, Dallas, Los Angeles, Miami, Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in Dubai, Dublin, Frankfurt, London, Milan, Paris, Hong Kong and Tokyo. For more information on Eastdil Secured, the global real estate investment bank, please visit . Contacts Crusoe:Andrew Schmitt+1.415.706.7499 [email protected]

Stargate partner Crusoe lands $750 million credit line for AI buildout
Stargate partner Crusoe lands $750 million credit line for AI buildout

CNBC

time11-06-2025

  • Business
  • CNBC

Stargate partner Crusoe lands $750 million credit line for AI buildout

Cloud infrastructure startup Crusoe, which is helping to build OpenAI's Stargate data center project in Texas, said Wednesday that it has raised a $750 million credit line from Brookfield Asset Management. The new debt will go toward data centers, Nvidia chips and electrical and power generation infrastructure, Crusoe CEO Chase Lochmiller said in an interview. "We're in a very capex-heavy business, which requires having significant and very deep pools of capital to be able to build both what the world needs and what our customers are demanding from us," Lochmiller said. Crusoe is collaborating on one of the largest hubs for running artificial intelligence models, which President Donald Trump announced in January. Over the course of four years, OpenAI and partners including Oracle plan to invest up to $500 billion to construct AI infrastructure. In December, Crusoe touted $600 million in funding with participation from Fidelity, Mubadala and Nvidia. In March it announced a $225 million credit line from Upper90 Capital Management. Last month Crusoe, Blue Owl Capital and Primary Digital Infrastructure disclosed the second phase of a $15 billion joint venture to develop a data center in Abilene, Texas, that will host 50,000 Nvidia graphics processing units. Crusoe is following the lead of other cloud providers focused on AI. Last year CoreWeave, which supplies OpenAI and its partner Microsoft, announced a $650 million credit line, in addition to billions in debt. CoreWeave went public earlier this year, and is currently valued at about $71 billion, having almost quadrupled since its IPO. Unlike CoreWeave, Crusoe builds its own data centers, rather than leasing. Investors valued Crusoe at $2.8 billion in the company's funding round announced in December. "A lot has happened since then," Lochmiller said. In May CoreWeave reported financial results for the first time as a public company, revealing new business from Google and OpenAI and revenue growth of 420%. The company's net loss more than doubled to about $315 million. "Just kind of seeing how public markets reacting to that has been quite positive, and I think that's very encouraging to us in terms of the equity value of our business," Lochmiller said. In addition to CoreWeave, Crusoe faces competition from top cloud providers such as Amazon and smaller players like Lambda and Nebius. Demand for ChatGPT and other OpenAI services remains feverish. On Monday OpenAI said it had reached $10 billion in annualized revenue when excluding one-time deals, up from $5.5 billion in 2024. Founded in 2018, Crusoe is based in Denver, with about 800 employees. Clients include the Massachusetts Institute of Technology, Together AI and Windsurf. In March, Crusoe said Nydig plans to acquire the startup's bitcoin mining business.

Crusoe and partners begin second phase of $15bn AI data centre
Crusoe and partners begin second phase of $15bn AI data centre

Yahoo

time23-05-2025

  • Business
  • Yahoo

Crusoe and partners begin second phase of $15bn AI data centre

AI infrastructure company Crusoe, Blue Owl Capital, and Primary Digital Infrastructure have launched the second phase of their $15bn joint venture (JV) to develop a 1.2GW AI data centre in Abilene, Texas. The JV involves Crusoe working alongside funds managed by Blue Owl's Real Assets platform and Primary Digital Infrastructure to construct six additional buildings at the site. Located at the Lancium Clean Campus, the data centre will consist of a total of eight buildings. The first phase of construction, which includes two buildings and more than 200MW of capacity, commenced in June 2024. It is anticipated to become operational in the first half of 2025. The second phase began in March 2025 and involves the construction of the remaining six buildings, collectively delivering the full 1.2GW capacity. This stage is expected to be operational by mid-2026. According to the Development Corporation of Abilene, the initial phase alone is projected to generate an economic impact of around $1bn over the next two decades. Crusoe CEO and co-founder Chase Lochmiller said: 'The foundation of artificial intelligence starts with energy and data centres. Crusoe is bringing these AI factories to life at an unmatched speed and scale that enables our customers to usher in a new era of AI driven abundance. 'Abilene will host one of the largest clusters of GPUs in the world, bringing thousands of jobs to the local community while delivering tens of billions of dollars in value to the economy.' The completed facility will support up to 50,000 NVIDIA GB200 NVL72s per building, all connected through a single integrated network fabric. This setup is intended to support advanced AI training and inference operations. Each building will employ direct-to-chip liquid cooling systems with zero-water evaporation technology, recycling water through a closed loop. Primary Digital Infrastructure executive managing director and chief investment officer Bill Stein said: 'The AI data centre at the Lancium Clean Campus represents exactly the kind of strategic infrastructure investment our platform was built for — future-ready, operator-aligned, and mission critical to fulfilling AI-driven compute demand. 'By partnering with forward-thinking operators like Crusoe and financial lenders like Blue Owl, we are collectively delivering vital capacity with the scale, speed, and sustainability required to fuel AI innovation. 'We are proud to be a part of such a groundbreaking initiative that will serve as a cornerstone for advancing AI in the US.' "Crusoe and partners begin second phase of $15bn AI data centre" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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