and Michael Dell.
Alongside the equity raise, the startup secured a $5 billion financing pool to help various technology companies fund the purchase of expensive AI chips and announced a $10 billion, six-year contract to provide cloud computing capacity to a major AI developer.
This deal addresses a significant gap in the market where high upfront costs for specialized hardware often restrict access to only the largest corporations with the strongest balance sheets.
By providing new financing vehicles, Volta aims to make it easier for both top-tier AI labs and smaller startups to secure the infrastructure necessary for high-performance computing.
This approach mirrors a growing industry trend where specialized financial structures are being used to support massive capital expenditures in data centers and silicon, creating an interconnected network of dependencies between suppliers and developers.
Founded by former infrastructure executives, Volta plans to leverage its expertise in power agreements and project finance to scale its operations.
The company has already secured one gigawatt of power—enough to supply hundreds of thousands of homes—for its upcoming data center projects.
Its initial $10 billion contract will be fulfilled through a partnership with Bitdeer Technologies Group at a site in Norway, while future expansions are planned for Texas and Wyoming.
Dell Technologies will serve as a primary partner, supplying the physical hardware for these facilities as Volta aims to deploy several gigawatts of capacity by 2030.