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Artificial intelligence data center specialist Crusoe said it secured a $750M credit facility from Brookfield Asset Management's infrastructure debt platform that will go toward financing the build-out of Crusoe's AI factories.
“We are excited to partner with Crusoe, a company at the forefront of powering the critical infrastructure needed for AI, including one of the world's largest AI data centers in Abilene, Texas,” said Eric Wittleder, deputy chief investment officer of Brookfield’s infrastructure high yield debt business.
Crusoe's Abilene campus is being designed, built and operated by Crusoe. Its two-building, 200-megawatt first phase is being funded by a $4B joint venture with Blue Owl and Primary Digital. The second phase has secured nearly $12B in financing.
The hunt for enough power to fuel the data centers that can handle the massive energy demands of AI is Crusoe's specialty. The firm focuses on finding development sites with access to power on-site or that can be bought directly from a power plant without having to rely on the grid. Often, this means tapping into renewables such as wind or solar energy, as is planned at the Abilene facility.
Microsoft, Amazon, Google and Meta all announced in earnings calls earlier this year their plans to boost investment in data centers and other infrastructure that supports artificial intelligence, Bisnow reported in May. The need for power to fuel the anticipated demand has pushed some big-name users to consider nuclear power.
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