# Aura IPO Filing and Crusoe AI Infrastructure Surge

**Podcast:** TechCrunch Daily Crunch
**Published:** 2026-09-08

## Transcript

This is TechCrunch.
Altra, stay out there.
Aura, the smart ring maker, has filed to go public.
I'm Imran Shaikh and your Tuesday very public daily crunch starts right now.
Data center developer Crusoe, which counts Meta, Microsoft, and OpenAI as its customers, has raised a new $3 billion round at a $30 billion valuation, Bloomberg reported.
Now, the company recently signed a massive $13 billion five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure, Bloomberg reported.
The fresh fundraise comes 10 months after Crusoe raised a $1.38 billion round at a $10 billion valuation last October.
Launched in 2018 as a crypto mining operation powered by flared natural gas, Crusoe has since pivoted into a major AI infrastructure and cloud provider that is best known for developing hyperscale data center campuses for clients like Oracle and OpenAI.
The company recently met with investment bankers, including Goldman Sachs and Morgan Stanley, to discuss a potential near-term IPO, Axios reported last month.
Well, a filing with the Securities and Exchange Commission on Thursday shows that Aura's revenue has jumped substantially in the past year.
You see, the company went from $697 million in revenue during the nine-month period that ended June 30th last year to $1.2 million.
billion dollars during the corresponding period this year.
Now, the company has said previously that it generated 500 million dollars in revenue in 2024, roughly one billion dollars in 2025, and that it expected to generate close to two billion dollars in revenue this year.
The company says it has sold 3.6 million rings over the past year and that it currently has approximately 5 million paid members, that is, users who subscribe to its service for broader health metrics.
The filing also says that Aura has an approximately 85% weighted average 12-month membership retention rate, meaning that roughly 85% of members who sign up in a given month are still subscribed a year later.
The company's rings, which sell in the range of $350 to $400, are, at their most fundamental level, fitness trackers designed to measure a user's biometrics, everything from metabolism and heart rate to stress levels and sleep patterns.
Paired with an app, the ring and that software are marketed by Aura as an always-on health intelligence platform.
Late last month, it was reported that Aura was looking to raise $3 billion during its expected public offering.
The company, which was founded in Finland in 2013, confidentially filed for an IPO in May.
Bloomberg previously reported that the company is expected to seek a $16 billion valuation.
In October of last year, it had been valued at around $11 billion.
In its SEC filing, Aura outlines where it believes its audience can widen in the coming years.
We believe our opportunity extends beyond traditional wearable use cases centered on activity and fitness tracking.
It says, continuing, we believe our platform can support significantly larger populations as we continue to expand access, build clinical evidence, and deepen integrations with health plans, employers, and care providers.
Oral also notes how its trove of data is fueling new AI integrations.
We believe we have amassed one of the largest and highest quality longitudinal biometric data sets in consumer health, tracking over 50 health and wellness metrics and representing nearly 42 billion hours.
of physiological data, it states.
Continuing, this dataset powers our AI and machine learning models, which decode complex physiological patterns and improve in accuracy, personalization, and predictive capability as member histories deepen.
TechCrunch has reached out to Aura for more info.
The company, which now has offices throughout the world, including San Francisco, was recently hit with a proposed class action lawsuit, accusing it of misleading users about the accuracy of its sleep tracking capabilities.
The suit alleges Aura's rings can't actually detect the physiological signals needed to determine sleep stages and instead rely on AI-generated estimates that the complaint describes as little more reliable than a coin flip.
The litigation follows years of online complaints from users who said that Aura consistently rated their sleep as optimal when, in fact, it was not.
The company has disputed the allegations, of course, and previously told TechCrunch it will defend against the claims, in the appropriate legal forum.
And folks, that's your Daily Crunch.
Today's stories were reported by Marina Temkin, Lucas Ropek, and more awesome TechCrunch journalists.
We'll see you here tomorrow, same Tech Time, same Crunch channel, and until then, find us at TechCrunch.com.