Crusoe, the AI infrastructure company that pivoted away from Bitcoin mining to build data centers, has reportedly signed a $13 billion cloud computing deal with Jane Street, the quantitative trading firm known for handling a significant share of global equity options volume.

If confirmed at that scale, the agreement would dwarf Jane Street's previous infrastructure commitments and rank among the largest cloud computing contracts in the industry's history. It would also extend a broader trend of multi-billion-dollar, multi-year AI compute commitments, a wave that has reshaped how hyperscalers, cloud providers, and their customers contract for capacity years in advance.

Two Companies Converging on AI Compute

Crusoe began its operations capturing flared natural gas at oil wells to power Bitcoin mining rigs. In 2024, the company sold off its mining operations entirely and committed fully to AI infrastructure. The pivot mirrors a wider shift in which former cryptocurrency miners, which had already secured powered land and grid interconnections, repurposed those assets toward AI data centers.

Crusoe has contracted roughly 5 gigawatts of AI compute capacity across its facilities, while its development pipeline exceeds 40 GW. Its campus in Abilene, Texas has become a focal point of the broader AI infrastructure buildout. The site is associated with Oracle and OpenAI's Stargate project, and Microsoft is reportedly leasing approximately 700 megawatts of power there for cloud services.

In April 2026, Jane Street signed a $6 billion multi-year cloud agreement with CoreWeave and took a $1 billion equity stake in that company. A $13 billion commitment to Crusoe would represent more than double the CoreWeave deal in dollar terms.

Why a Trading Firm Needs This Much Compute

Jane Street has already engaged in strategic leasing for projects that include green bond financing, such as a 149 MW facility in Oklahoma. Crusoe's heritage in energy arbitrage positions it as a natural partner for this kind of arrangement, as the company built its entire business model around finding cheap, underutilized energy sources and converting them into compute capacity.

The reported deal has not been formally confirmed by either company, and its terms — including duration, capacity allocation, and payment structure — remain undisclosed. Watch for whether Crusoe and Jane Street confirm the agreement, how the contracted capacity maps onto Crusoe's 5 GW of contracted and 40 GW of pipeline capacity, and whether additional financial firms follow Jane Street's lead in signing dedicated AI compute agreements.