Crusoe signs $13B cloud computing deal with Jane Street

Crusoe, the AI infrastructure company that ditched Bitcoin mining to build data centers, has reportedly signed a $13 billion cloud computing deal with Jane Street, the quantitative trading firm known for handling a significant share of global equity options volume.

If confirmed at that scale, the agreement would dwarf Jane Street’s previous infrastructure commitments and rank among the largest cloud computing contracts in the industry’s history.

Two companies converging on AI compute

Crusoe began life capturing flared natural gas at oil wells to power Bitcoin mining rigs. In 2024, the company sold off its mining operations entirely and went all-in on AI infrastructure.

Crusoe has contracted roughly 5 gigawatts of AI compute capacity across its facilities. The company’s development pipeline exceeds 40 GW. Its campus in Abilene, Texas has become a focal point of the AI infrastructure buildout. The site is associated with Oracle and OpenAI’s Stargate project, and Microsoft is reportedly leasing approximately 700 megawatts of power there for cloud services.

In April 2026, Jane Street signed a $6 billion multi-year cloud agreement with CoreWeave and took a $1 billion equity stake in that company. A $13 billion commitment to Crusoe would represent more than double the CoreWeave deal in dollar terms.

Why a trading firm needs this much compute

Jane Street has already engaged in strategic leasing for projects that include green bond financing, such as a 149 MW facility in Oklahoma. Crusoe’s heritage in energy arbitrage makes it a natural partner for this kind of arrangement, as the company built its entire business model around finding cheap, underutilized energy sources and converting them into compute.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.