AI Cloud Startup Volta Infra Hits $2.4B Valuation, Secures $10B European Cloud Deal

Volta Infra, a seven-month-old AI infrastructure startup backed by Nvidia, has raised fresh funding at a $2.4 billion valuation and signed a $10 billion cloud-computing contract with an unnamed AI company to deliver services in Europe, the company said on Tuesday. The agreement, which spans six years, covers computing capacity at a data center in Norway operated by crypto mining firm Bitdeer Technologies, with 133 megawatts of capacity powered by Nvidia's Vera Rubin chips.

The startup also launched a $5 billion AI infrastructure program with asset manager Azora to finance AI "factories," according to a company statement. Volta said the Norway project marks the first in a development pipeline exceeding one gigawatt of near-term power capacity across North America and Europe, underscoring the scale of infrastructure required to support large-scale AI workloads.

Bloomberg News reported, citing people familiar with the matter, that the $10 billion contract is with Anthropic, the AI lab behind the Claude model family. Reuters has not been able to independently verify that report. Anthropic declined to comment, and Volta did not immediately respond to a request for comment from Reuters.

The startup raised $300 million in a seed round and Series A financing, led by Azora, Andreessen Horowitz, Altimeter, and Nvidia, Volta said. The influx of capital reflects a broader trend of AI companies spending heavily on the computing infrastructure needed to run large language models, as demand for specialized cloud capacity continues to outpace supply.

Anthropic has signed a series of computing and investment agreements with major technology firms including SpaceX, Advanced Micro Devices, Microsoft, Nvidia, Alphabet, Amazon.com, and Micron Technology, signaling a strategic push to secure long-term compute access. Industry analysts note that such partnerships are becoming increasingly critical as the cost and complexity of building and operating AI data centers rise, making third-party infrastructure providers like Volta essential players in the AI supply chain.