Crusoe expands cloud artificial intelligence (AI) platform to meet growing enterprise demand.

Upper90 Capital Management announced a $225 million credit facility for Crusoe, which is positioned as a provider of vertically integrated AI infrastructure. The funding is earmarked for the expansion of Crusoe Cloud, tailored for enterprise AI workloads.

This financing round, which is led by Upper90 alongside other institutional partners including British Columbia Investment Management Corporation, FS Investments, King Street Capital Management, Liberty Mutual Investments, and ORIX USA, will primarily finance the acquisition of Nvidia GPUs and related cloud infrastructure. This latest financing underscores Crusoe's progress following its previous $600 million Series D funding disclosed in December.

Chase Lochmiller, CEO and co-founder of Crusoe, stated, “This funding will fuel the expansion of Crusoe Cloud, our platform designed to simplify and accelerate AI development for every company. Our long-standing strategic relationship with Upper90 has been instrumental in helping Crusoe scale our technology to meet the incredible demand for Crusoe Cloud with enterprise customers.”

Upper90 has been an early capital partner for Crusoe, having previously provided an equipment loan in 2019 and facilitated its first GPU debt facility in 2023. Billy Libby, CEO and Co-Founder of Upper90, noted, “We specialize in structuring innovative financing for high-growth companies, and we’re proud to deepen our relationship with Crusoe.”