London-based AI cloud startup Volta has emerged from stealth with a $2.4 billion valuation and a reported $10 billion compute deal with Anthropic, according to Bloomberg.
Volta raised about $300 million across a seed round and Series A, led by Azora, Andreessen Horowitz, Altimeter and Nvidia, with participation from the family office of Michael Dell and Matter Venture Partners. The company was founded this year by CEO Ricard Boada and chief corporate development officer Sofia Gumuzio to build what it calls “the utility of compute.”
The reported contract with the Claude maker runs six years and covers a 133-megawatt AI factory in Norway, developed alongside crypto mining firm Bitdeer and powered by Nvidia Vera Rubin systems. Bloomberg, citing people familiar with the matter, said the partnership is with Anthropic, which has been locking up compute capacity through deals with SpaceX and Amazon in recent months.
Volta is part of Nvidia’s Cloud Partner program and describes itself as a fully vertically integrated AI infrastructure platform, combining institutional capital, powered land, data centers, compute, software and operations. It has also set up an AI infrastructure program with Azora to provide $5 billion of financing for future factories, and says its development pipeline already exceeds one gigawatt of near-term power capacity across North America and Europe.
The startup acquired Genesis Cloud earlier this year, adding a software stack for public AI cloud and bare-metal cluster management. Boada argues compute has become a new infrastructure asset class, financed and built with the scale of railways or electricity rather than as a conventional software product.
