FluidStack is in talks to raise $1B at an $18B valuation

Jane Street and Situational Awareness are in discussions to co-lead the round, Bloomberg reports. The Oxford-founded neocloud, which relocated from the UK to the US after landing a $50 billion data centre partnership with Anthropic, has grown its revenue from $1.8M in 2022 to $66.2M in 2024.

FluidStack, the AI data centre startup that builds compute infrastructure specifically for AI companies, is in talks to raise approximately $1 billion at a target valuation of $18 billion, Bloomberg reported on Tuesday, citing people briefed on the matter.

Trading firm Jane Street and Situational Awareness, an AGI-focused fund founded by former OpenAI researcher Leopold Aschenbrenner and backed by the Collison brothers, former GitHub CEO Nat Friedman, and investor Daniel Gross, are in discussions to co-lead the round. Morgan Stanley is advising on the investment.

The $18 billion target valuation would represent a more than doubling of the company’s worth ...