AI Startup Volta Infra Reaches $2.4 Billion Valuation, Announces $10 Billion Cloud Partnership

Volta Infra, an AI infrastructure startup launched just seven months ago, announced Tuesday it has raised funds at a $2.4 billion valuation and secured a $10 billion contract to provide cloud computing services in Europe. The deal underscores the intense investor appetite for companies that supply the immense computing power required by the artificial intelligence industry.

Landmark Agreements

Volta disclosed two significant initiatives in its statement. The first is a $10 billion cloud computing agreement with an unnamed AI company, which will be executed in partnership with crypto mining and data center operator Bitdeer Technologies.

Separately, the startup has launched a $5 billion AI infrastructure program with asset manager Azora. The venture aims to finance the development of specialized AI data centers, which Volta refers to as AI "factories."

Funding and Partnership Details

According to a report by Bloomberg News, citing people familiar with the matter, the client for the $10 billion cloud contract is prominent AI firm Anthropic. Reuters has not been able to independently verify this information, and Anthropic declined to comment.

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The reported six-year agreement involves providing computing capacity from a Bitdeer-operated data center in Norway. Key details of the project include:

• 133 megawatts of initial capacity.
• The facility will be powered by Nvidia's Vera Rubin chips.

Volta also confirmed it raised $300 million in a combined seed and Series A funding round. The financing was led by Azora, Andreessen Horowitz, Altimeter, and chipmaker Nvidia.

Market Context

This development highlights the massive capital expenditure AI companies are undertaking to secure the computational resources needed to train and operate large language models. Volta stated that the Norway project is the first in a development pipeline that exceeds one gigawatt of near-term power capacity across North America and Europe, signaling its ambition to become a major player in the specialized AI infrastructure market.