Neuberger Specialty Finance and Crusoe Announce $700 Million Facility to Finance the Power Infrastructure for Crusoe's AI Factories

NEW YORK and DENVER, Colo. - October 22, 2026 - Neuberger Specialty Finance ("NBSF"), the specialty finance and asset-based lending platform of Neuberger, and Crusoe, the vertically integrated AI infrastructure company, today announced a $700 million financing facility to fund the purchase of power infrastructure that will provide energy to Crusoe-built and Crusoe-owned AI data centers, or "AI factories."

The $700 million facility is secured by recently ordered power generation equipment. The equipment will provide energy for Crusoe built and owned AI factories, powering critical infrastructure for its global AI customers.

"Crusoe is building AI factories at a pace and scale the market has never seen, and that requires financing partners who can move with the same urgency," said Charlie Tudor, Director, Capital Markets at Crusoe. "NBSF recognizes the value of our power equipment and the mission-critical role it plays in scaling our power solutions and structured a facility that lets us secure long-lead power generation assets aligned with development timelines. We continue to see incredible support from the capital markets for what we're building, and this facility is another strong example of that momentum."

"We're excited to deepen our strategic partnership with a top-tier operator like Crusoe," said Sean Hinze, Managing Director, NBSF. "We see significant value in the power generation assets supporting Crusoe's growth, especially as behind-the-meter power becomes increasingly important to the AI buildout. This financing facility is a strong example of our ability to move quickly and structure flexible financing solutions around highly specialized assets."

The financing comes as Crusoe scales its AI factory platform following the close of a $3.9 billion Series F round in September 2026 at a $30.9 billion post-money valuation. Crusoe has more than 6 gigawatts of gross AI infrastructure capacity under contract across its data centers and cloud platform, supporting customers including Microsoft, Google, Oracle, and OpenAI's Stargate initiative.

The transaction deepens NBSF's asset-based financing platform in digital infrastructure and power generation. The group led by Peter Sterling has cumulatively invested more than $16 billion through 80 global origination partners, from commercial banks to fintechs, across various market cycles since NBSF's founding in 2018. NBSF now manages over $5 billion across 50+ portfolio companies.

About Crusoe

As the AI factory company, Crusoe is on a mission to accelerate the abundance of energy and intelligence. The company provides a reliable, scalable, cost-effective, energy-first solution for AI infrastructure. By harnessing large-scale energy sources, building AI-optimized data centers, and delivering a powerful AI cloud platform, Crusoe empowers its customers and partners to build the future faster. For more information, visit crusoe.ai.

About Neuberger Private Markets

Neuberger Private Markets is a division of Neuberger and has been an active and successful private markets investor since 1987. Neuberger Private Markets invests across strategies, asset classes, and geographies for a large number of sophisticated and renowned institutions and individuals globally. As of June 30, 2026, Neuberger Private Markets manages over $170 billion of investor commitments across primaries, co-investments, secondaries, private credit, and specialty strategies. Neuberger Private Markets has an experienced and diverse team of over 500 professionals with a global presence in 11 countries globally.

Media Contacts

Crusoe: [email protected]

Neuberger: Avery Reed / [email protected]