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

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Aug 4 : Volta Infra, a seven-month-old AI infrastructure startup, said it raised funds at a $2.4 billion valuation and landed a $10 billion contract with an unnamed AI company to provide cloud-computing services in Europe alongside Bitdeer Technologies.

The startup has also launched a $5 billion AI infrastructure program with asset manager Azora to finance AI "factories," it said in a statement on Tuesday.

Here are some details:

• Bloomberg News reported that the Nvidia-backed Volta's $10 billion cloud contract is with Anthropic, citing people familiar with the matter.

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• Reuters has not been able to independently verify the report.

• The six-year agreement covers computing capacity at a data center operated by crypto mining firm Bitdeer in Norway with 133 megawatts of capacity powered by Nvidia's Vera Rubin chips, the report said.

• Anthropic declined to comment and Volta did not immediately respond to a Reuters request for comment.

• AI companies have been spending heavily on computing infrastructure needed to run large language models.

• Volta said the Norway project is the first in a development pipeline exceeding one gigawatt of near-term power capacity across North America and Europe.

• The startup raised $300 million in a seed round and Series A financing, the Bloomberg report said.

• The rounds were led by Azora, Andreessen Horowitz, Altimeter and Nvidia, Volta said.

• Anthropic has signed a series of computing and investment agreements with companies including SpaceX, Advanced Micro Devices, Microsoft, Nvidia, Alphabet, Amazon.com and Micron Technology.

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