Exclusive: Crusoe’s ‘Neocloud’ to Buy $400 Million in AMD AI Chips for Data Centers

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Crusoe, an artificial intelligence-focused cloud computing startup, revealed plans to purchase approximately $400 million worth of AI chips from Advanced Micro Devices (AMD) to power its AI data centers. CEO Chase Lochmiller told Reuters that Crusoe intends to acquire around 13,000 AMD MI355X chips for a new data center cluster in the U.S., which is expected to become operational this fall.

The data center will employ liquid cooling technology and be designed specifically to house AI chips, offering higher performance compared to older infrastructure. Crusoe will rent access to this facility, which can be partitioned among multiple clients or used entirely by a single customer.

Lochmiller emphasized Crusoe’s agility as a smaller startup, competing with larger hyperscalers by leveraging speed, nimbleness, and concentrated engineering talent.

AMD’s MI355X chips, featuring high-bandwidth memory, are optimized for AI inference tasks, providing an alternative to Nvidia’s dominant hardware in the AI chip market. While many AI cloud services rely on Nvidia chips, AMD is positioning itself to capture a share by partnering with companies like Crusoe.

Lochmiller described this approach as a validation of the “neocloud” strategy — specialized cloud infrastructure platforms tailored for AI workloads that add significant value to the AI ecosystem by supporting large-scale users.

Spain’s Multiverse Raises $217 Million to Compress AI Language Models

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Spanish artificial intelligence startup Multiverse Computing announced it has secured €189 million ($217 million) in funding from Bullhound Capital, HP Inc, Forgepoint Capital, and Toshiba to advance its technology for compressing AI language models.

Multiverse has developed a compression technology that can reduce the size of large language models (LLMs) by up to 95% without sacrificing performance, enabling cost reductions of up to 80%. The method blends concepts from quantum physics and machine learning to emulate quantum systems but does not require a quantum computer.

This recent funding round positions Multiverse as the largest AI startup in Spain and places it among leading European AI companies such as Mistral, Aleph Alpha, Synthesia, Poolside, and Owkin.

Multiverse has already released compressed versions of popular LLMs, including Meta’s Llama, China’s DeepSeek, and France’s Mistral, with plans to expand its model offerings. CEO Enrique Lizaso Olmos highlighted the focus on compressing widely used open-source LLMs, noting that many corporations currently rely on the Llama model family.

The compressed AI models are also available through Amazon Web Services’ AI marketplace, facilitating broader industry adoption.

Binance Reopens Crypto Trading to Syrians Following U.S. Sanctions Lift

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Binance, the world’s largest cryptocurrency exchange, announced it will reopen trading services to users in Syria after the United States lifted sanctions on the country last month.

Syrian users will now have full access to Binance’s platform, which supports over 300 cryptocurrency tokens and stablecoins. Notably, the Syrian pound will be accepted for buying and selling cryptocurrencies on the exchange.

The sanctions removal came as a surprise move by the Trump administration, reportedly influenced by Saudi Arabia, which advocated for easing restrictions on Syria. The new government in Syria, led by an Islamist coalition after ousting former leader Bashar al-Assad, is focusing on rebuilding the country’s public services and improving infrastructure, including internet access, after years of civil war and prolonged sanctions.

Binance’s reopening of services is expected to facilitate financial inclusion and offer Syrians new economic opportunities amid the country’s recovery efforts.