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

Volta Infra, a seven-month-old AI infrastructure startup, has raised funds at a $2.4 billion valuation and secured a $10 billion contract to provide cloud-computing services in Europe alongside Bitdeer Technologies. According to Bloomberg News, citing people familiar with the matter, Anthropic is the unnamed AI company in the contract. Reuters has not been able to independently verify the report, and neither Anthropic nor Volta responded to requests for comment.

The six-year agreement covers computing capacity at a data center operated by Bitdeer in Norway with 133 megawatts of capacity powered by Nvidia's Vera Rubin chips. Volta described the Norway project as the first in a development pipeline exceeding one gigawatt of near-term power capacity across North America and Europe.

Volta raised $300 million in a seed round and Series A financing, led by Azora, Andreessen Horowitz, Altimeter, and Nvidia. The startup has also launched a $5 billion AI infrastructure program with asset manager Azora to finance AI "factories."

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