AI Cloud Startup Volta Infra Holdings Raises $300 Million, Led by a16z and Altimeter Capital

August 4th - According to Bloomberg, Volta Infra Holdings Ltd. is a newly established artificial intelligence cloud company that has raised $3 billion in venture capital. Volta has also secured a $50 billion customer financing pool to help small and medium-sized AI companies reduce the barrier of purchasing high-end NVIDIA chips.

The funding, announced on Tuesday, values the company at $2.4 billion and was co-led by Andreessen Horowitz and Altimeter Capital. NVIDIA Corp. and Michael Dell were also involved. Azora, an asset management company providing banking financing pools to Volta's clients, participated in its early funding rounds.

Volta also stated that it has signed a $100 billion cloud computing capacity supply contract with a leading AI developer. According to Volta, the agreement is for a period of six years.

The company was founded earlier this year by Ricard Boada and Sofia Gumuzio, both former executives of Brookfield Asset Management Ltd.'s infrastructure business. Volta aims to make it easier for top AI labs and smaller-scale startups to afford NVIDIA's cutting-edge chips.