AI cloud startup Volta valued at $2.4 billion, announces $10 billion AI partnership

Volta Infra, a fledgling AI infrastructure startup, announced it had secured a $2.4 billion valuation and a $10 billion contract with an unnamed AI firm to supply cloud computing services in Europe, alongside Bitdeer Technologies. The company also unveiled a $5 billion AI infrastructure initiative with asset manager Azora to finance AI factories.

Bloomberg News disclosed that Volta's $10 billion cloud agreement is with Anthropic, though Reuters has not independently confirmed this information. The six-year agreement pertains to computing capacity at a data center run by crypto mining company Bitdeer in Norway, boasting 133 megawatts of power fueled by Nvidia's Vera Rubin chips, according to the report.

Anthropic did not respond to requests for comment, and Volta has not yet provided a statement. The AI sector has been allocating substantial resources to computing infrastructure necessary to power large language models. Volta highlighted that the Norway project is the initial phase of a pipeline exceeding one gigawatt of near-term power capacity in North America and Europe.

The startup raised $300 million in seed and Series A funding, led by Azora, Andreessen Horowitz, Altimeter, and Nvidia, as reported by Bloomberg. Anthropic has also entered into a series of computing and investment agreements with entities such as SpaceX, AMD, Microsoft, Nvidia, Alphabet, Amazon, and Micron Technology.