OIA achieves 10-fold ROI in US-based Crusoe

BUSINESS REPORTER
MUSCAT, MAY 23
Oman Investment Authority (OIA) announced that it has achieved strong returns from the partial exit of its investment in the American company Crusoe, which specialises in AI infrastructure.
OIA will continue to benefit from the company’s future growth opportunities through its remaining stake, as part of OIA flexible investment management and capital recycling strategy aimed at reallocating capital towards promising investment opportunities.
This comes amidst the rapid global growth of the artificial intelligence sector and increasing demand for data centres, cloud computing and digital infrastructure supporting advanced technologies. Exit strategies are considered a global investment practice used when an invested asset becomes ready for sale, generating profits and returns exceeding the original investment amount.
Through the partial exit, OIA achieved: an annual internal rate of return (IRR) of 68%; and a return multiple of 10.3x invested capital.
This reflects the success of OIA’s strategy in investing in fast-growing technology startups and its ability to capture high-quality investment opportunities in future-focused sectors, especially with the global expansion of AI applications and cloud computing and the growing demand for its supporting applications.
Founded in Denver in 2018, Crusoe specialises in developing AI and cloud computing infrastructure through a model that utilises renewable and underused energy sources to power data centres and energy-intensive applications. The company also develops solutions that reduce emissions from gas flaring and make use of stranded energy resources.
It later expanded into building specialised data centres to support AI applications and high-performance computing, benefitting from rapidly growing global demand for digital infrastructure. Crusoe’s valuation has reached nearly $10 billion and the company has been selected by major global corporations such as Microsoft and Oracle to develop advanced AI infrastructure complexes.
OIA’s investment in Crusoe falls under the Future Generations fund, which focuses on long-term international investments aimed at generating sustainable returns and diversifying risks across global markets. By the end of 2025, the portfolio’s assets had reached RO 8.57 billion, generating profits of RO 1.04 billion during the same year, with an annual return on investment of 13.9%.
The portfolio also continued expanding its specialised investments by adding new funds across various future-oriented sectors, bringing the total number of investment funds to 210, reflecting OIA’s strategy of building a balanced global portfolio capable of capturing promising investment opportunities.
OIA recorded a historic performance in 2025, achieving profits of RO 2.9 billion and a return on investment of 14.6%. Its average return on investment over the past five years reached 10.4%, ranking the Oman Investment Authority third globally among sovereign wealth funds, according to a report issued by Global SWF. This achievement reflects sustainable growth and market confidence in OIA performance. OIA also ranked first globally in returns from public market investments during 2025 compared to other sovereign wealth funds.