Crusoe and Boom Supersonic scrapped their $1.25 billion turbine deal days after Crusoe's $3.9 billion round
Days after closing a $3.9 billion round at a $30.9 billion valuation, Crusoe has lost its launch deal for Boom Supersonic's turbines, roughly 1.2 gigawatts of planned on-site power, on top of handing back the 1.8GW Cheyenne project in June. The delivery gap the round is underwriting just lost its flagship power answer.
Vincent Jiang · 2 min read
Crusoe$26.61B — Crusoe, private, latest valuation $26.61B reports more than 6 gigawatts of gross contracted capacity, of which 1 gigawatt is delivered and operating, and it closed an initial $3.9 billion Series F on September 17 at a $30.9 billion post-money valuation 2. Days later, Blake Scholl, CEO of Boom Supersonic, said the companies are no longer moving forward with the $1.25 billion launch partnership for his Superpower turbines: "Turbines are no longer part of Crusoe's near term primary power mix at Abilene," he wrote on X 1.
The round underwrote power plans
The Series F roughly tripled the valuation from October 2025's Series E above $10 billion, co-led by Atreides Management, Mubadala Capital and Valor Equity Partners, with Nvidia−0.34% — Nvidia, down 0.34 percent today among the backers 2. The order Boom lost covers 29 of its 42-megawatt Superpower turbines, 1,218 megawatts of planned on-site power with first deliveries slated for 2027 1. It is the second slip in four months: Black Hills said on June 10 that Crusoe handed back development of the 1.8 gigawatt Cheyenne, Wyoming project, which continues without Crusoe 2.
The order sat at the heart of Crusoe's power plan for its Texas campuses. Abilene's operating 1.2 gigawatt Oracle+4.71% — Oracle, up 4.71 percent today campus, where OpenAI$1.18T — OpenAI, private, latest valuation $1.18T trained its Astra model, runs on grid power with gas turbines backup only; the 900 megawatt Microsoft+2.59% — Microsoft, up 2.59 percent today campus there waits for mid-2027 12. GE Vernova's 29 booked LM2500XPRESS units, nearly 1 gigawatt, now carry the near-term turbine story 4.
The gigawatts that lost their power plans, against what is actually running
Data
| Value | |
|---|---|
| Cheyenne handed back | 1,800MW |
| Boom order lost | 1,218MW |
| GE Vernova booked (nearly 1GW) | 1,000MW |
| Abilene grid power | 1,200MW |
Who pays, and who keeps the megawatts
Series F investors are marking more than $140 billion of total contract value, all company figures, against 1 gigawatt actually energized, and this week the contracted gigawatts lost their most concrete power answer 21. Boom raised $300 million last year largely to commercialize Superpower with Crusoe as launch customer, and now redirects about 250 megawatts to other sites, targeting 1 gigawatt in 2028: the turbines end up powering Crusoe's rivals' campuses 1. Crusoe, meanwhile, spent the week on goodwill, pledging $50 million in compute credits over three years to the White House's Genesis Mission, announced October 8 3.
Watch GE Vernova's booking and Crusoe's next energized megawatt
Megawatts energized, not megawatts contracted, are the currency at this valuation 2. The tell is GE Vernova's 29-unit booking surviving intact and the date of Crusoe's next energized megawatt at Abilene; anyone marking Crusoe secondaries or its contract value should haircut the gigawatts that just lost their power plan 24.
Deepdive
AI-generated from this story and its cited sources. Not investment advice.
