AI’s explosive growth is transforming global energy demand, marking an inflection point where energy systems and data center infrastructure converge. Since 2010, the compute required to train AI models has doubled roughly every six months — fueling extraordinary increases in electricity use. U.S. power demand is now projected to climb as much as 25% by 2030 and up to 78% by 2050, straining an already overtaxed grid.
Traditional data centers, which rely almost entirely on grid power, are particularly exposed to these challenges. Grid congestion and price volatility can delay development by years — timelines that can’t keep up with the speed of AI innovation.
Many technology leaders now cite power availability and grid capacity as the single greatest bottleneck to AI growth. Meeting the energy demands of this new era is fundamental to ensuring continued technological progress and system resilience.
The Solution
Crusoe is tackling one of the most pressing challenges in the AI era — the growing energy bottleneck — through a distinctive, vertically integrated “energy-first” approach. Unlike traditional cloud or data center operators that start with compute demand and then scramble to secure power, Crusoe begins by securing stranded or underutilized energy sources and builds advanced AI compute infrastructure around it.
By breaking from grid-bound convention, Crusoe accelerates speed to power, providing a meaningful competitive advantage in both time-to-market and operational cost efficiency.
Crusoe operates two complementary business units: Digital Infrastructure — its network of purpose-built AI data centers (or “AI factories”) — and Crusoe Cloud, an AI-optimized cloud computing platform. Crusoe Cloud is purpose-built for next-generation AI workloads, delivering superior price-performance and exceptional reliability. The company’s vertical integration extends through its subsidiary, Crusoe Industries, which manufactures critical electrical components in-house. This full-stack control enhances supply chain resilience and cost efficiency.
On the Digital Infrastructure front, Crusoe has made extraordinary progress. The company was selected as a key partner in building the flagship Stargate 1.2 GW AI factory in Abilene, Texas which will run Open AI’s workloads — a site poised to become one of the world’s largest data centers. Recently, Crusoe announced that the first phase of Stargate’s flagship data center campus is now operational and progress continues to advance rapidly.
The flagship Stargate campus under construction in Abilene, Texas.
Why We’re Backing Crusoe
Crusoe is building the critical, scalable infrastructure required to meet the world’s exponentially growing demand for AI compute. The team is directly addressing one of the most fundamental bottlenecks of the AI era — energy and power — with an emphasis on diversified energy sources.
In a short period of time, Crusoe has established itself as a standout performer in AI infrastructure, executing with remarkable speed and precision while partnering with many of the world’s leading AI innovators. Crusoe went from breaking ground at its Abilene site to powering two buildings in under a year — a striking achievement for a project of such scale and complexity. The company has also built strategic relationships with NVIDIA, AMD, and Redwood Materials.
The company’s momentum is a direct result of its leadership. Co-founder and CEO Chase Lochmiller brings a deep background in quantitative research and algorithmic trading, while Co-founder and COO Cully Cavness draws on extensive experience in geophysics, renewables, and energy investment banking. Together, they’ve assembled an exceptional team with deep expertise across energy, finance, technology, and data center operations — including Chris Dolan, Chief Data Center Officer, and Erwan Menard and Nadav Eiron, both of whom previously led AI and infrastructure initiatives at Google.
Crusoe’s combination of technical excellence, execution speed, and visionary leadership uniquely positions it to power the next generation of AI innovation.
What’s Ahead?
The market opportunity that Crusoe is tackling is immense. AI capex is expected to exceed $400B next year, and meeting that demand will require massive new sources of reliable power. Crusoe is uniquely positioned to deliver on this challenge by maintaining a diverse, flexible energy portfolio — one that blends speed and pragmatism with a deep commitment to sustainability.
At Salesforce Ventures, we invest in the technologies and teams driving enterprise innovation. We’ve seen firsthand how AI is reshaping the energy sector itself. Crusoe represents a bold, pioneering approach to that transformation, pairing energy innovation with next-generation AI infrastructure.
We’re thrilled to partner with the Crusoe team as they help power the future of sustainable AI.
