Crusoe Eyes IPO With JPMorgan, Goldman Sachs, Morgan Stanley, Bank of America

Crusoe, a developer and power supplier of data centers and AI infrastructure, is in talks with major banks for an initial public offering (IPO). The company has reportedly discussed potential IPO details with JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America. However, the discussions have not yet advanced to a formal competition to select the offering's banks.

Crusoe is expanding its AI infrastructure portfolio, which includes contracted capacity across data-center projects and cloud platforms. The company has reported 4.9 GW of contracted AI infrastructure capacity and a development pipeline exceeding 40 GW.

An IPO would provide Crusoe with access to public equity as it funds data centers, power projects, and its cloud computing platform, Crusoe Cloud. The company is also pursuing private capital, with a $3 billion funding round reportedly being discussed in July at a valuation of around $30 billion including the new investment.