News from (Gate News), April 14 — Fluidstack, a cloud infrastructure startup based in New York, is in negotiations to raise approximately $1 billion with a target valuation of $18 billion, according to people familiar with the matter. Jane Street and Situational Awareness are discussing co-leading the funding round, while Morgan Stanley is serving as an advisor.

The company was valued at around $7.5 billion in a previous funding round earlier this year, which included participation from Situational Awareness.
Fluidstack recently announced a $50 billion deal with Anthropic to build custom data centers. Fluidstack is a “neocloud” service provider offering large-scale GPU clusters to clients and working with partners to develop specialized computing capacity.
The company's expansion relies on former Bitcoin miners like TeraWulf and Cipher Mining, which are converting energy-intensive industrial facilities into data centers. Google, an investor in Anthropic, has holdings in TeraWulf and Cipher.
The deal with Anthropic valued at $50 billion indicates a shift as AI companies move from renting standard cloud capacity to commissioning custom-built infrastructure.
This trend provides Bitcoin miners with a new revenue stream, helping them escape profit crises by providing land and electricity for high-performance computing data centers. Cipher Mining and TeraWulf are pursuing long-term contracts for AI and HPC infrastructure to secure more stable cash flow compared to just mining Bitcoin.