AI Summary
Crusoe has sold its incomplete data center project in southeastern Wyoming to Google, which plans to invest $17 billion in its development. The sale reflects the challenges independent developers face in managing large-scale projects amid rising costs and local opposition.
- Crusoe, a Denver-based data center developer valued at $30.9 billion, sold an unfinished project in Wyoming to Google.
- Google had previously expressed concerns about the project's cost and construction timeline under Crusoe's management.
- The project was initially announced last year in partnership with Tallgrass, with plans to scale to 10 gigawatts of power capacity.
- Google did not disclose the purchase price but plans to invest $17 billion in the campus development.
- The sale illustrates the difficulties independent developers encounter in delivering large projects on time and within budget, compounded by local community opposition.
- Despite the sale, Crusoe continues to work with Google on another data center project near Amarillo, Texas.
- In September, Crusoe raised $3.9 billion and added three board members, including JB Straubel, founder of Redwood Materials.
- Crusoe generates revenue by leasing data center space, renting out GPUs, and selling compute power for AI models.
- The company serves major clients in AI, including Oracle, OpenAI, Microsoft, and Meta.
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