Crusoe Energy is taking one of the most unconventional paths to the public markets: turning flared natural gas, energy the oil industry treats as waste, into the backbone of AI infrastructure. With a $10 billion valuation, Crusoe is betting that owning both power and compute is key to win AI sector.
Crusoe Energy is heading to the NYSE with a $10 billion valuation, powered entirely by what the oil industry considers trash. While tech giants scramble for overtaxed power grids, Crusoe is building a 1.2-gigawatt empire on flared gas. Is this the ultimate AI 'cheat code,' or will power-grid politics stall their momentum? This valuation is anchored by a massive $1.4 billion Series E round led by Mubadala Capital and Valor Equity Partners in late 2025. The company is expected to list on the NYSE in mid-to-late 2026, targeting a capital raise of approximately $1.5 billion to fuel its massive data center build-out. Crusoe’s business model is incredibly powerful. The company captures flared natural gas and converts it into energy for data centers. In doing so, it vertically integrates the process by owning both the energy plants and the computing infrastructure.
