Quantitative trading firm Jane Street has reportedly signed a $13 billion cloud computing contract with Crusoe.

Crusoe, a data center developer and cloud provider, will give Jane Street access to GPUs via its cloud platform under the agreement.

As reported by Bloomberg and citing people with knowledge of the deal, the contract will run for five years.

Which data center the compute capacity will be hosted at has not been stated. Crusoe has data centers in operation or under development across the US in Texas and Wyoming, and has been linked to projects in Missouri and Virginia. The company also leases capacity in third-party data centers for its cloud platform. According to Crusoe's website, it has 13.6 million sq ft (1.26m sqm) of data centers and 4.9GW. How much of this is operational is unclear.

This would be the largest cloud contract signed by Crusoe to date. The company has previously signed major capacity deals with the likes of Oracle, Microsoft, and Meta, but those agreements are for physical data center space as opposed to use of Crusoe's cloud platform.

Bloomberg previously reported that Crusoe was seeking a $3bn funding round at a $30bn valuation, which the publication states has seen increased interest since the Jane Street deal.

Crusoe declined to comment to Bloomberg.

Jane Street has seemingly been significantly expanding its compute capacity of late. The company signed a $6bn AI cloud agreement with CoreWeave in April of this year, under which it would have capacity across multiple facilities and would include Nvidia Vera Rubin hardware.

In June, reports emerged that Jane Street was even looking into establishing its own data center that could have between 100MW and 200MW of capacity.

Other quantitative trading firms signing notable cloud contracts in recent months include IMC and Hudson River Trading.