Fluidstack, a startup that builds specialized data centers for AI companies, is in talks to raise a $1 billion funding round at an $18 billion valuation, according to Bloomberg and reported by TechCrunch. The potential raise would represent a significant valuation increase from the company’s previous round in December, when it was reportedly raising about $700 million at a $7.5 billion valuation.
Why AI-specific data centers matter
Fluidstack builds specialized data centers designed specifically for AI workloads. Unlike hyperscalers such as AWS, which serve multiple computing needs, Fluidstack’s infrastructure is built specifically for AI companies.
This distinction reflects a broader trend in AI infrastructure: as AI developers scale rapidly, they increasingly seek dedicated capacity and greater control over their deployment environments. The company’s customer base includes multiple AI developers, and it was previously known for providing infrastructure to Mistral.
Valuation growth: from $7.5B to $18B
According to TechCrunch, Fluidstack is in talks for a $1 billion round at an $18 billion valuation, potentially led by Jane Street, as described by Bloomberg. If completed, this would more than double the company’s valuation in a matter of months.
The funding timeline shows:
- In December, Fluidstack was reportedly raising around $700 million at a $7.5 billion valuation, according to sources told to Bloomberg. The company did not formally announce the close of that round.
- That round was said to be led by Situational Awareness, an AGI-focused fund founded by former OpenAI researcher Leopold Aschenbrenner, and backed by Stripe’s Collison brothers, former GitHub CEO Nat Friedman, and AI investor and entrepreneur Daniel Gross.
- In February, talks were apparently still ongoing, including with Google, which was considering contributing $100 million, reported by The Wall Street Journal.
The reported funding activity suggests that investors are willing to underwrite infrastructure companies positioned as aligned with AI deployment requirements.
Anthropic’s $50B commitment drives growth
A major factor in investor interest is a large customer commitment from Anthropic. In November, Anthropic announced a $50 billion deal with Fluidstack to build data centers custom-designed for its needs in Texas and New York.
Anthropic primarily uses AWS and Google Cloud to serve Claude and has a partnership with Microsoft to supply Claude to that company’s customers. The Fluidstack deal provides additional capacity and gives Anthropic more control over its own cloud infrastructure. Like rival OpenAI, Anthropic is growing rapidly and requires expanded capacity.
This arrangement reflects a pattern in the AI industry: developers can maintain multi-cloud strategies while also pursuing dedicated infrastructure for scaling.
Strategic shift toward the U.S.
The Anthropic partnership has influenced Fluidstack’s operational decisions. The company relocated its headquarters from the U.K. to New York. Fluidstack was spun out of Oxford and had been active in Europe’s AI scene.
More recently, Fluidstack pulled out of a key €10 billion AI project in France, reported by Bloomberg, to focus on U.S. opportunities. These moves suggest that AI infrastructure spending is increasingly concentrated in regions where large-scale deployments are being planned.
Beyond Anthropic, Fluidstack counts Meta, Poolside, and Black Forest Labs as customers. The Anthropic partnership is significant enough that it influenced the company’s headquarters relocation.
What to watch
The $1 billion round is described as being in talks, and the earlier December round did not formally announce its close. Near-term outcomes may depend on deal completion and final terms. Observers may watch whether the reported potential lead investor Jane Street confirms participation and whether other backers—such as Google, which was considering a $100 million contribution in February—ultimately join the round.
The geographic focus of Anthropic’s commitment—Texas and New York—and Fluidstack’s operational shift toward the U.S. may signal where dedicated AI infrastructure capacity is being prioritized.
Source: TechCrunch