AI cloud infrastructure company Volta Infra Holdings announced the completion of $300 million in venture financing, reaching a valuation of $2.4 billion.

TechFlow reports, August 4, according to Bloomberg, AI cloud infrastructure company Volta Infra Holdings announced the completion of $300 million in venture financing at a valuation of $2.4 billion, co-led by Andreessen Horowitz and Altimeter Capital, with participation from NVIDIA and Dell Technologies founder Michael Dell. Additionally, Volta secured support from a $5 billion customer financing pool aimed at helping small and medium-sized AI enterprises lower the threshold for purchasing high-end NVIDIA chips.

The company also disclosed the signing of a $10 billion, six-year cloud computing service contract with an unnamed leading AI developer. The contract will be delivered in partnership with Bitdeer, utilizing its 133 MW data center in Norway. Volta was co-founded earlier this year by former Brookfield Asset Management infrastructure executives Ricard Boada and Sofia Gumuzio, has currently secured 1 GW of data center power resources, and plans to develop new sites in Texas and Wyoming, with a goal to deploy multi-gigawatt computing capacity before 2030.