Anthropic secures compute power in multi-billion dollar Norway data center deal

Investing.com -- A massive new infrastructure agreement is set to bring substantial AI computing capacity to a newly announced data center in Norway, utilizing a multi-tiered arrangement spanning real estate, hardware, and cloud services. The deal bridges cloud infrastructure startup Volta with data center operator Bitdeer. Following the announcement of the agreement, shares of Bitdeer jumped 14%.

While the end-user was kept officially confidential in corporate announcements, Bloomberg reports that Anthropic is the unnamed "leading AI lab" involved in the project. According to Bloomberg’s sources, the Claude developer has struck a $10 billion, six-year contract with Volta Infra Holdings to secure the computing capacity needed to keep pace with soaring demand for its products.

The physical backbone of this operation will be located in Tydal, Norway, and managed by Bitdeer. In a press release on Tuesday, Bitdeer detailed a 16-year colocation lease with Volta worth approximately $4.7 billion in initial contracted revenue. The contract includes an 8-year extension option that could increase the potential total contract value to $8 billion over 24 years.

The agreement guarantees Volta and its end-user a purpose-built facility running on 100% renewable hydropower. The financial obligations are supported by a $1.3 billion credit backstop anticipated to be arranged by J.P. Morgan and another major global financial institution.

Upon completion, the Tydal facility is slated to be one of Norway’s largest and most efficient AI data centers. It will offer 133 megawatts of gross capacity to support a 121-megawatt IT load configured entirely for the AI lab. The infrastructure will feature hardware supplied by Dell Technologies and will be stocked with Nvidia’s newest Vera Rubin chips. The project is scheduled to be delivered in two equal phases, with target commencement dates of December 31, 2026, and March 31, 2027.

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