Denver-based Crusoe, an eight-year-old data-center developer valued at roughly $30.9 billion, announced the sale of its incomplete facility in southeastern Wyoming to Google. The transaction was confirmed on Friday and marks the first time Google has taken ownership of a Crusoe-initiated project. Google had previously been courted as a tenant for the site but ultimately decided to acquire the asset directly.
Crusoe originally unveiled the Wyoming venture last year together with Tallgrass, a Blackstone-backed infrastructure firm, with an ambition to scale the campus to ten gigawatts of power capacity. Google’s internal review raised concerns over projected construction costs and schedule adherence under Crusoe’s management, prompting the shift from prospective tenant to buyer. The change underscores the difficulty of delivering massive data-center builds on time and within budget.
Google has not disclosed the purchase price, but it simultaneously announced a $17 billion commitment to develop the Wyoming campus. The sizeable capital outlay highlights the scale of investment required for next-generation AI infrastructure. Industry observers note that independent developers often struggle to secure equipment, power contracts, and community approval, factors that can stall or inflate projects before they reach operational status.
Despite relinquishing the Wyoming site, Crusoe continues to collaborate with Google on a separate data-center project near Amarillo, Texas. The partnership demonstrates that Google remains willing to work with the developer on locations where timelines and cost structures align with its strategic objectives. The Amarillo facility is expected to progress under a different schedule than the troubled Wyoming effort.
In September, Crusoe secured a $3.9 billion financing round, adding three new board members, including JB Straubel, founder of Redwood Materials and Tesla board director. The capital infusion arrived after the Wyoming setback, enabling the company to pursue other large-scale builds. Crusoe generates revenue by leasing space to customers who supply their own GPUs, renting its own GPU fleet, and selling inference compute for AI model execution.
The firm was founded by Chase Lochmiller, now chief executive, and Cully Cavness, who originally built a cryptocurrency-mining operation that captured waste natural-gas flare streams for power. Their early focus on energy-efficient mining laid the groundwork for Crusoe’s current emphasis on AI-focused compute services. Straubel’s involvement also links the company to emerging energy-storage technologies, as Crusoe became the first customer of Straubel’s storage business.