Fluidstack plans to raise $1 billion, raising its valuation to $18 billion.

According to Bloomberg, cloud computing startup Fluidstack is in talks with investors for a new funding round of approximately $1 billion, targeting a valuation of around $18 billion. Sources familiar with the matter say Jane Street and Situational Awareness are in discussions to co-lead the round, with Morgan Stanley advising on the investment. This valuation represents a significant increase from its earlier funding round of approximately $7.5 billion this year, which included Situational Awareness, a fund managed by former OpenAI researcher Leopold Aschenbrenner. Fluidstack focuses on building high-performance computing data centers and recently signed a $50 billion custom data center construction agreement with Anthropic. It has also relocated its headquarters from London to New York.