Anthropic PBC has signed a $10 billion, six-year cloud-computing contract with Volta Infra Holdings Ltd., a seven-month-old startup valued at $2.4 billion. The deal secures 121 IT megawatts of capacity at Bitdeer Technologies Group's Tydal data center in Norway, which will deploy liquid-cooled Nvidia Vera Rubin chips. The transaction is enabled by a $1.3 billion JP Morgan credit backstop, validating Bitdeer's strategic pivot from Bitcoin mining to AI infrastructure hosting.
Anthropic-Volta $10B compute deal
- ▪The Norway data center project will be delivered in two equal phases, with target launch dates of December 31, 2026, and March 31, 2027
- ▪The $10 billion computing capacity will be delivered from a 133-megawatt data center in Tydal, Norway, operated in partnership with Bitdeer Technologies Group
- ▪Anthropic PBC signed a $10 billion, six-year agreement to secure cloud-computing capacity from Volta Infra Holdings Ltd.
Volta infrastructure finance model
- ▪Nvidia Corp. and the family office of Michael Dell participated as investors and strategic technology partners in Volta Infra Holdings Ltd.'s Series A round
- ▪Volta Infra Holdings Ltd. was founded in January 2026 by former infrastructure executives from Brookfield Asset Management Ltd.
- ▪Volta Infra Holdings Ltd. acts as an infrastructure finance platform, assembling capital stacks and credit support so AI labs can access GPU capacity without direct infrastructure debt
- ▪Volta Infra Holdings Ltd. raised $300 million in a Series A funding round led by Andreessen Horowitz and Altimeter Capital, valuing the startup at $2.4 billion
JP Morgan credit backstop mechanism
- ▪The $1.3 billion JP Morgan credit backstop substitutes for a hyperscaler guarantee, placing institutional creditworthiness between Bitdeer Technologies Group and Volta Infra Holdings Ltd.'s payment obligations
- ▪Affiliates of JP Morgan and a second unnamed global financial institution arranged a $1.3 billion standby letter-of-credit backstop for the Tydal project
Nvidia Vera Rubin platform deployment
- ▪A single Nvidia Vera Rubin NVL72 rack delivers 3.6 exaflops of NVFP4 inference performance and 2.5 exaflops of training compute
- ▪The Tydal data center facility will be fully configured with Nvidia Corp.'s liquid-cooled Vera Rubin chip architecture, supplied by Dell Technologies
Norway hydroelectric power advantage
- ▪The Tydal facility targets a Power Usage Effectiveness ratio of approximately 1.1, utilizing Norway's cold climate and hydroelectric grid to reduce cooling overhead
- ▪Norway generates over 90% of its electricity from hydroelectric sources, providing the Tydal campus with a near-zero-carbon power profile
Bitdeer Bitcoin-to-AI pivot validation
- ▪The lease agreement between Bitdeer Technologies Group and Volta Tydal AS includes an optional eight-year renewal that could bring the total contract value to $8 billion over 24 years
- ▪Bitdeer Technologies Group's subsidiary executed a 16-year colocation lease with Volta Tydal AS worth approximately $4.7 billion in contracted base-term revenue
- ▪Bitdeer Technologies Group zeroed its Bitcoin treasury in February 2026, selling all owned and newly mined coins to redirect liquidity into AI data center infrastructure
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