Crusoe is a vertically integrated AI infrastructure company that controls the entire stack from power generation to cloud software. It sources and develops energy (stranded gas, solar, nuclear partnerships), designs and builds gigawatt-scale data center campuses, manufactures key components in-house (modular "Spark" data centers, electrical gear at facilities in Colorado, Oklahoma, and Louisiana), and operates Crusoe Cloud — a GPU platform for AI training and inference. Revenue comes from two streams: long-term campus development and operate contracts with hyperscalers (OpenAI Stargate/Abilene, Microsoft, Meta, Oracle) and GPU-as-a-service subscriptions through Crusoe Cloud, which targets AI startups and enterprises. The core thesis: power is the bottleneck for AI, and owning the full stack — electrons through tokens — lets Crusoe build faster, cheaper, and more reliably than competitors who buy land, power, and construction separately.