TL;DR — Key Takeaways
- Crusoe has reportedly signed a five-year, $13 billion AI cloud deal with Jane Street, according to Bloomberg.
- Jane Street already has a roughly $6 billion cloud commitment with CoreWeave and operates thousands of GPUs in its own data centers.
- The reported Crusoe deal would bring Jane Street’s combined cloud commitments with the two providers to about $19 billion.
AI infrastructure company Crusoe has reportedly signed a five-year cloud computing deal worth about $13 billion with trading firm Jane Street, adding another external source of GPU capacity for a company that has already committed billions to AI infrastructure.
Bloomberg reported that Crusoe will provide Jane Street with GPU clusters and other infrastructure to train and run AI models through its cloud platform, citing people familiar with the matter. The agreement would make Jane Street Crusoe’s most prominent cloud customer to date, Bloomberg said. Reuters subsequently reported on the Bloomberg story, and neither Crusoe nor Jane Street immediately responded to Reuters’ request for comment.
Jane Street already has a substantial cloud commitment with Crusoe rival CoreWeave, dating back to 2024. The companies announced in April that Jane Street had committed approximately $6 billion to CoreWeave’s AI cloud platform, giving it access to compute across multiple facilities, including infrastructure based on Nvidia’s Vera Rubin technology. Jane Street also made a separate $1 billion equity investment in CoreWeave.
Jane Street also operates its own GPU infrastructure. The company says its newest Texas data center contains 4,032 GPUs across 56 racks. The reported Crusoe contract hints at the scale of Jane Street’s AI infrastructure buildout, which now spans thousands of GPUs in its own data centers and multibillion-dollar commitments to specialized cloud providers. If the $13 billion figure is accurate, the Crusoe and CoreWeave agreements alone would represent about $19 billion in cloud commitments from the trading firm.
Crusoe has been raising capital to expand its AI infrastructure business. The company raised $1.375 billion in a Series E round announced last October at a valuation above $10 billion. Bloomberg reported in July that the company was discussing another roughly $3 billion funding round that could value it at around $30 billion.
Bloomberg said Thursday that the Jane Street contract has prompted more interest in that possible funding round. The fundraising comes as Crusoe expands beyond renting access to GPUs. The firm operates across more of the AI infrastructure stack than its cloud service alone suggests, developing energy infrastructure and large data centers in addition to providing GPU compute through Crusoe Cloud.
Power is central to that buildout. Crusoe said in June that it had contracted 4.9 gigawatts of AI infrastructure capacity across its data center projects and cloud business. Its projects have combined grid connections with on-site and behind-the-meter generation, helping new facilities come online even when local grid capacity is constrained.
Important details of the reported deal remain undisclosed, including what GPU systems Jane Street would receive, how much computing capacity the contract covers and when that capacity would be up and running. Neither company have publicly confirmed the agreement at the time of this publication.
