Crusoe, a data center company that supplies AI computing power to firms including Meta Platforms Inc. and Oracle Corp., has finalized a cloud services agreement with Jane Street Group valued at approximately $13 billion, according to people familiar with the matter.
The arrangement spans five years and will deliver clusters of advanced AI processors - GPUs - along with the additional infrastructure necessary to support both AI model training and inference. Those resources will be accessed through Crusoe's cloud platform, the people said.
People familiar with the matter also told Bloomberg that Crusoe has been pursuing a chip loan and that the proposed loan would be secured by contracts with Jane Street. The reporting indicates the Jane Street agreement has emerged as the most prominent customer contract Crusoe has signed for its cloud offering.
Interest in Crusoe's commercial prospects appears to have risen alongside the Jane Street deal. A person familiar with Crusoe's fundraising discussions said the contract helped draw attention to the company's latest financing talks. Crusoe has been in discussions about raising roughly $3 billion at an approximate $30 billion valuation, the reporting said.
Those developments together - the multi-year cloud contract, the reported pursuit of a chip loan backed by customer agreements, and the ongoing fundraising discussions - form the set of facts available about Crusoe's recent commercial activity and financing plans. The Jane Street agreement is presented as the most significant customer commitment publicly reported for Crusoe's cloud business.
Details beyond the basic structure of the five-year contract, the reported chip-loan pursuit, and the reported fundraising discussions were not disclosed in the reporting cited. The available information does not specify implementation timelines, precise delivery schedules for hardware, or contractual milestones tied to the $13 billion figure.
Bottom line: Crusoe has struck a reported $13 billion, five-year cloud contract with Jane Street that supplies GPU clusters and infrastructure for AI workloads and has factored into the company's ongoing financing conversations.