AI data center startup Crusoe is in talks to raise about $3 billion in a funding round that may triple its valuation, according to a report by Bloomberg News. The startup has contracts to supply AI computing power for the likes of Meta and Oracle, as technology giants spend billions of dollars on data centers to meet the massive computing requirements for GenAI.

Crusoe, which builds and operates large data centers that power AI systems, is still in active talks on the round, and a final valuation has not been set. Investors, however, expect the value to fall within the $30 billion range, including the new investments.

Last year, Crusoe raised $1.38 billion in a Series E round at more than a $10 billion valuation. The round was co-led by technology investors Valor Equity Partners and Mubadala Capital.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.