Milestones
- Phase 1 construction starts2024Complete.
- Expansion to about 1.2 GW announcedMar 2025Complete.
- First buildings operational2025Complete.
- Full campus completeTarget 2026Current milestone.
Most important updates
- 23 Sep 2025
- 18 Mar 2025
- 21 Jan 2025
Upcoming
- 2026Full campus complete (next)
Current obstacles
- Grid and on-site powerA gigawatt load in West Texas relies on the grid plus on-site gas generators and batteries.
Physics limits
- Every watt becomes heatA 1.2 GW campus must shed as much heat as a large power plant. Dry cooling uses little water but works worst on the hottest days, when the chips need it most.
- Moving a gigawatt needs heavy wiresDelivering a gigawatt takes high-voltage lines and substations sized for a city. Power must be generated and carried continuously, and new transmission takes years to build.
How it works

8 buildings, about 1.2 GW
Each building is designed for up to about 50,000 NVIDIA GB200 GPUs, cooled by closed-loop liquid systems that recirculate the same water.
Grid plus on-site generation
Power comes from the Texas grid, rich in West Texas wind, with on-site gas generation as backup and for extra capacity.
Built for Oracle and OpenAI
Crusoe develops the campus; Oracle leases it and runs OpenAI's Stargate workloads on it.
Update log
Tue 23 Sep 2025
- Minor: PressCommercial
Tue 18 Mar 2025
- Major: BlogManufacturing
Tue 21 Jan 2025
- Major: PressCommercial
About Crusoe
Crusoe
AI data centers, Crusoe Cloud, Abilene
Crusoe builds and runs AI data centers and a GPU cloud, placing them near cheap power. It started by using waste gas from oil fields. It built the Abilene, Texas campus for OpenAI and Oracle's first Stargate site.
- Raised over $3B at about a $30B valuation in September 2026.
- Built the 1.2 GW Abilene campus with Lancium for Oracle and OpenAI.
- Sold its bitcoin-mining business to NYDIG in 2025 to focus on AI.
- Founded
- 20188 yrs
- Headquarters
- United States
- Status
- Private
- Valuation
- $30BprivateSep 2026
- Raised
- $5B3 rounds
- Last round
- Venture round · $3BSep 2026$30B post
- Coverage
- 1 program · 5 updateslatest 23d agochecked 25 Sep
- Lead investors
- Mubadala CapitalValor Equity PartnersFounders Fund
- Customers
- OracleOpenAI
- Partners
- Lancium
- People
- Chase LochmillerCo-founder and CEOCully CavnessCo-founder and President

