Quick Facts
- Anthropic signed a $10 billion, six-year agreement with AI cloud startup Volta for 133 megawatts of compute capacity in Norway.
- The Norway facility will run on renewable hydroelectric power and use Nvidia’s Vera Rubin chips, with phased delivery starting in late 2026.
- Volta raised $300 million in venture funding at a $2.4 billion valuation, led by Andreessen Horowitz and Altimeter Capital, with Nvidia and Michael Dell also investing.
Anthropic has signed a $10 billion, six-year deal with Volta, an AI cloud infrastructure startup founded earlier this year, to expand compute capacity for its Claude models. Bloomberg first identified Anthropic as the unnamed AI lab Volta had previously referenced in public announcements.
The deal centers on a data center in Norway, built in partnership with Bitdeer, a crypto-mining firm converting some of its facilities to AI workloads. The site will deliver 133 megawatts of capacity, powered entirely by renewable hydroelectric energy, and will run on Nvidia’s Vera Rubin chip architecture.
Delivery is structured in two phases. Phase I, covering the first two data halls, is scheduled to go live by the end of December 2026. Phase II follows by the end of March 2027. Bitdeer is also developing two additional halls totaling 47 megawatts for AI and high-performance computing use in the second half of 2027, with the full site potentially reaching 180 megawatts.
Shares of Bitdeer rose 14% on the news. Bitdeer CFO Michael G. Potter called the agreement a key milestone in the company’s shift toward AI infrastructure, noting the site will use frontier AI models and Nvidia GPU technology powered by carbon-free energy.
Volta’s Background and Funding
Volta was co-founded by Ricard Boada and Sofia Gumuzio, both former executives at Brookfield Asset Management’s infrastructure business. Boada serves as CEO; Gumuzio holds the title of Chief Corporate Development Officer.
The company raised $300 million in venture capital alongside the Anthropic deal. Andreessen Horowitz and Altimeter Capital led the round. Nvidia and Michael Dell also participated, giving the startup a $2.4 billion valuation.
Raghu Raghuram, managing partner at Andreessen Horowitz, said the firm was drawn to Volta’s founders specifically because of their experience financing large infrastructure projects and securing power agreements. The firm has historically avoided neocloud and AI data center investments.
Volta has also launched a $5 billion AI infrastructure program with asset manager Azora to finance what it calls AI factories. The Norway project is the first in a development pipeline the company says exceeds one gigawatt of near-term power capacity across North America and Europe. Volta plans new sites in Texas and Wyoming and aims to deploy multiple gigawatts of computing capacity by 2030.
Anthropic’s Broader Infrastructure Push
The Volta deal is one piece of a much larger compute buildout at Anthropic. The company already holds agreements with Amazon, Google, Broadcom, SpaceX, and AMD. Its expanded Amazon deal covers up to five gigawatts of capacity and includes nearly one gigawatt of Trainium2 and Trainium3 chips by end of 2026, with Anthropic committing more than $100 billion over ten years to AWS technologies.
A separate SpaceX deal costs Anthropic $1.25 billion per month in computing capacity, running through May 2029. Total compute spending across all agreements runs approximately $19 billion per year, financed through private credit facilities the company treats as a structural part of its operations.
Anthropic filed confidentially for a U.S. IPO on June 1, 2026, shortly after closing a $65 billion Series H round that valued the company at nearly $1 trillion. The Norway deal signals the company has no plans to slow infrastructure investment as it moves toward a public offering.
Read more: Anthropic signs $10B deal with AI cloud startup Volta