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GPU clouds funding

GPU clouds

A sub-sector of AI Infrastructure. Each company counts once, in its main sub-sector.

70 rounds, $21.7B raised by 44 companies, Jan 2, 2023 to Nov 14, 2026, 24% of AI Infrastructure capital. Top three companies: Crusoe 27%, Nscale 15%, Firmus 13%.

Companies by capital raised
CompanyHQCapital raisedRoundsExit
CrusoeUnited States$5.9B3—
NscaleUnited Kingdom$3.3B3—
FirmusAustralia$2.7B4—
FluidstackUnited States$2.3B2—
LambdaUnited States$2.3B3—
CoreWeaveUnited States$1.5B3Listed
TensorWaveUnited States$450M2—
StarcloudUnited States$430M3—
ArmadaUnited States$361M3—
PaleBlueDot AIUnited States$350M2—
VultrUnited States$333M1—
VerdaFinland$314M4—
Volta Infra HoldingsUnited Kingdom$300M1—
Cowboy SpaceUnited States$275M1—
RunPodUnited States$120M2—
Hydra HostUnited States$100M1—
FoundryUnited States$80M1—
GcoreLuxembourg$60M1—
Hyperbolic LabsUnited States$49M3—
Mount ThorUnited States$45M1—
NexGen CloudUnited Kingdom$45M1—
GensynUnited Kingdom$43M1—
RuneUnited States$40M1—
OrnnUnited States$33M1—
NavaIndia$32M2—
The ten largest rounds
CompanyAmountStageAnnounced
Crusoe$3.9BSeries F+Sep 17, 2026
Firmus$2BUnlabeledAug 7, 2026
Nscale$2BSeries CMar 9, 2026
Fluidstack$1.5BUnlabeledSep 4, 2026
Lambda$1.5BSeries ENov 18, 2025
Crusoe$1.4BSeries EOct 23, 2025
Nscale$1.1BSeries BSep 25, 2025
CoreWeave$1.1BSeries CMay 1, 2024
Fluidstack$830MSeries AJul 20, 2026
Crusoe$600MSeries DDec 12, 2024