Crusoe Energy Systems, the company behind the Stargate AI data center, has struck a huge 4.5-gigawatt energy deal, securing enough power to run millions of Nvidia (NASDAQ:NVDA) AI chips by 2027, according to The Financial Times.
Originally focused on using excess gas from oilfields for Bitcoin mining, Crusoe is now shifting toward AI infrastructure. The company plans to build high-density data centers optimized for AI workloads, featuring advanced cooling systems to support Nvidia's GPUs.
Crusoe is a key player in the Stargate project, an AI infrastructure initiative backed by OpenAI and SoftBank (SFTBY). Stargate aims to invest up to $500 billion over the next four years to expand AI computing power, and Crusoe has been tapped by Oracle (NYSE:ORCL) to build its first data center for the initiative.
Crusoe has attracted major investors, securing up to $500 million in equity funding, including backing from Peter Thiel's Founders Fund. It also locked in a $3.4 billion deal with Blue Owl Capital (NYSE:OWL) to finance a Texas data center leased to Oracle.
Rather than depending on traditional power grids, Crusoe is developing on-site natural gas plants to power its data centers. Public filings reveal plans for a 360.5-megawatt gas plant in Texas, ensuring a stable energy supply, a critical challenge in AI infrastructure, according to Business Insider.
With AI demand surging, Crusoe's energy-first approach could make it a major force in next-gen AI computing.
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