OpenAI’s Data Center Partner Nears $120 Million Stock Sale For Its Employees

Crusoe, a startup developing a large data center in Texas for Oracle and OpenAI, is arranging an employee share sale that values the seven-year-old firm at around $13 billion, according to two people with knowledge of the transaction.

The deal involves selling around $120 million worth of employee shares and would value them at a 30% premium to an equity funding round Crusoe announced just weeks ago, these people said. It’s the latest example of a data center–related firm whose revenues and share price have gotten a boost from the relentless demand for servers by a handful of large spenders, including OpenAI.