Tech Mubadala backs US-based AI startup in $600m funding round By Pramod Kumar December 17, 2024, 1:25 PM Reuters/Amr Alfiky Mubadala CEO and managing director Khaldoon Al Mubarak said the fund has significant exposure to the US with focus on artificial intelligence and private credit Abu Dhabi’s Mubadala Investment Company is among the investors backing Crusoe, a San Francisco-based artificial intelligence infrastructure provider, in its $600 million funding round. The Series D funding round was led by Founders Fund, with participation from new and existing investors, including Fidelity, Long Journey Ventures, Nvidia, Ribbit Capital and Valor Equity Partners. In June 2022, Mubadala participated in a $350 million series C funding round for US-based Crusoe Energy. US clears export of advanced AI chips to UAE Mubadala to focus on Asia investments says CEO Drone deliveries all about speed, not profit, says Careem Crusoe has been expanding its global footprint of AI infrastructure over the past year, and its customer count has grown more than seven times in the past 12 months. The company now operates in nine states and three countries, including Iceland. This month, Mubadala CEO and managing director Khaldoon Al Mubarak said the fund has significant significant exposure to the US with focus on AI and private credit, with exposure to the asset class reaching almost $20 billion. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
