JPMorgan leads $5 billion debt package for Volta AI data-center buildout

JPMorgan Chase has begun contacting potential lenders about a $5 billion debt package to fund Volta Infrastructure Holdings’ expansion of artificial intelligence data centers, according to people familiar with the financing. Volta raised $300 million in venture funding earlier this month at a valuation of $2.4 billion. The company aims to help AI labs and smaller technology firms access Nvidia’s high-end chips. JPMorgan is leading the transaction and is gauging lender interest, the people said. JPMorgan and Volta declined to comment. Companies have borrowed about $600 billion for data centers and other AI investments since last year, according to Bloomberg data. The broader AI buildout is expected to cost nearly $5 trillion by the end of 2030. Volta was founded this year by former Brookfield infrastructure executives Ricard Boada and Sofia Gumuzio. It recently agreed to provide $10 billion of computing capacity to Anthropic over six years through a data center in Norway managed with Bitdeer Technologies. Other companies are also developing financing structures for AI infrastructure. Broadcom is working with Apollo Global Management and Blackstone to fund chips for Anthropic, while ...