AI cloud startup Volta Infra Holdings has secured $300 million in funding, co-led by a16z and Altimeter Capital.
1 hours ago
According to Bloomberg, Volta Infra Holdings Ltd., a newly established AI cloud company, has raised $300 million in venture capital. Volta also secured a $5 billion customer financing pool to help small and mid-sized AI firms lower the barrier to purchasing Nvidia’s high-end chips. The financing, set to be announced on Tuesday, values the company at $2.4 billion, with co-lead investments from Andreessen Horowitz and Altimeter Capital. Nvidia Corp. and Michael Dell also participated. Azora, the asset management firm providing the banking financing pool for Volta’s clients, had taken part in its earlier funding rounds. Volta also said it has signed a $10 billion cloud computing capacity supply contract with a leading AI developer, a six-year agreement according to the firm. The company was founded earlier this year by Ricard Boada and Sofia Gumuzio, both former executives in the infrastructure business at Brookfield Asset Management Ltd. Volta aims to make it easier for top AI labs and smaller startups to afford Nvidia’s cutting-edge chips.
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