Anthropic signs $10B AI cloud deal with Volta
What's the story
Anthropic has signed a massive $10 billion deal with AI cloud start-up Volta. The six-year agreement will see Volta provide cloud computing services to Anthropic, the company behind the Claude AI model. Founded earlier this year, Volta will work with Bitdeer, a crypto-mining firm, to build a data center in Norway capable of delivering 133 megawatts (MW) of computing power.
Partnership details
Volta is a member of NVIDIA's Cloud Partner program
Volta is a member of NVIDIA's Cloud Partner program, a group of AI cloud providers that use NVIDIA GPUs in their data centers.
The facility in Norway will be powered by NVIDIA's Vera Rubin systems, the chipmaker's latest AI chip architecture.
This strategic partnership highlights the growing trend of tech companies leveraging advanced computing power for their AI models.
Growth strategy
Anthropic has been aggressively expanding its computing capacity
Anthropic has been aggressively expanding its computing capacity in recent months. The company has also signed new compute deals with SpaceX and Amazon.
Earlier this year, Anthropic raised $65 billion in a funding round to cover the high costs of AI development.
The company is also considering going public later this year to raise additional capital for its ambitious projects.
Start-up growth
Bitdeer's transition from cryptocurrency mining to AI applications
Founded in January by former Brookfield Asset Management executives, Volta leases AI capacity and helps clients finance deals for expensive chips.
The start-up recently raised $300 million in venture funding, bringing its valuation to $2.4 billion.
Its partner Bitdeer is among many Bitcoin mining companies transitioning some of their data centers from cryptocurrency mining to AI applications due to falling Bitcoin prices.