- Anthropic signed a $10 billion deal with Volta, to be delivered in partnership with Bitdeer Technologies Group using a Norway site offering 133 megawatts.
- The $2.4 billion funding round was co-led by Andreessen Horowitz and Altimeter Capital, with Nvidia Corp. and Michael Dell participating.
- Dell Technologies Inc. will act as a technology partner to Volta, providing gear to its facilities.
- Shares of Bitdeer rose nearly 10% in premarket trading Tuesday following the news.
- Volta Infra Holdings Ltd. raised $300 million in venture funding and secured an additional $5 billion in financing to help more technology companies access costly AI chips.
- Azora, the asset-management firm providing financing, invested in an earlier Volta round.
- Volta has secured 1 gigawatt of power for data centers in the near term, plans sites in Texas and Wyoming, and aims to deploy multiple gigawatts by 2030.
- As tech companies increase AI chip and data-center spending, more firms are offering new financing vehicles, creating an interdependent web between technology suppliers and AI developers.
Anthropic's recent $10 billion deal with AI cloud startup Volta marks a significant step in the tech industry's race for AI capabilities. Over a six-year period, Volta will provide cloud computing resources, leveraging a data center in Norway with a capacity of 133 megawatts.148910
Volta, valued at $2.4 billion, has secured $300 million in venture funding and an additional $5 billion in financing, co-led by Andreessen Horowitz and Altimeter Capital, with participation from Nvidia and Dell.236
The partnership aims to ease access to Nvidia's advanced AI chips for both large corporations and smaller startups, addressing concerns that only well-capitalized firms can afford the high upfront costs associated with AI technology. “We saw a massive opportunity and a massive gap in the market,” said Volta's CEO Boada.1112
In addition to the Norwegian facility, Volta plans to develop sites in Texas and Wyoming, aiming for multiple gigawatts of capacity by 2030. The deal with Anthropic is part of a broader trend where tech companies are increasing investments in chips and data centers to support AI, creating a complex web of dependencies that could amplify risks if demand does not meet expectations.
Shares of Bitdeer, a partner in the deal, rose nearly 10% in premarket trading following the announcement.5
“The $2.4 billion funding round was co-led by Andreessen Horowitz and Altimeter Capital, with Nvidia Corp. and Michael Dell participating. Volta has secured 1 gigawatt of power for near-term data centers and plans sites in Texas and Wyoming, aiming to deploy multiple gigawatts by 2030.”
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