Founder · Crusoe

Cully Cavness

Co-founder & Chief Strategy Officer of Crusoe, an ai infrastructure company based in San Francisco.

Co-founder · Chief Strategy OfficerSan FranciscoAI Infrastructure
Founded
2018
San Francisco, California, United States
Raised to date
$4.4B
2 rounds on record
Latest round
Growth round
$3B · September 2026

About

Cully Cavness is Co-founder & Chief Strategy Officer of Crusoe, an ai infrastructure company based in San Francisco, founded in 2018. Crusoe's most recent disclosed round was a funding round of $3B in September 2026.

Compiled from StartupFox records · updates as coverage is published

Company

Est. 2018
Crusoe
AI Infrastructure · San Francisco · Active

Crusoe is a vertically integrated AI infrastructure company that designs, builds and operates hyperscale data centre campuses and sells GPU capacity through Crusoe Cloud. Founded in 2018 by Chase Lochmiller and Cully Cavness, it began by capturing flared natural gas at oil wells and converting it into power for portable data centres running bitcoin mining, a unit it sold to NYDIG in early 2025. Its customers include Meta, Microsoft, Oracle, OpenAI and Jane Street, and its Abilene, Texas campus, developed with Blue Owl Capital and Primary Digital Infrastructure, forms the first phase of the Sta

Funding
September 2026Growth round$3BAtreides Management (co-lead), Valor Equity Partners (co-lead), Mubadala Capital
October 2025Series E$1.38BExisting and new investors at a valuation above $10 billion
Company profile →2 rounds on record

Journey with Crusoe

3 milestones
  1. Early 2025Milestone

    Sells its bitcoin mining unit to NYDIG, completing the shift from crypto to AI infrastructure and full campus development.

  2. 2018Founded

    Founded by Chase Lochmiller and Cully Cavness to capture flared natural gas at oil wells and convert it into power for portable data centres, initially running bitcoin mining.

  3. Oct 2024Milestone

    Enters a $3.4 billion joint venture with Blue Owl Capital and Primary Digital Infrastructure to fund a 206 MW, 998,000 square foot data centre at the Lancium Clean Campus in Abilene, Texas, later the first phase of Stargate.

Also building Crusoe

CLChase LochmillerCo-founder · CEO→

Coverage

1 story
Funding · 4 Sept 2026 · 5 min read
Crusoe Raises $3B at $30B on a Jane Street Contract That Is a Ceiling, Not a Booking