JPMorgan Chase has begun reaching out to lenders about a $5 billion debt package for Volta Infra Holdings’ artificial-intelligence data-center expansion. The discussions follow Volta’s $300 million venture round, co-led by Andreessen Horowitz and Altimeter Capital, which valued the company at $2.4 billion post-money. Nvidia and the family office of Michael Dell also participated. Volta has separately agreed to a $5 billion non-dilutive infrastructure program with Spanish asset manager Azora, though it is unclear whether the proposed JPMorgan financing forms part of that arrangement or would provide additional capital. The company has a six-year, $10 billion compute procurement agreement with Anthropic, the developer of Claude, and a 16-year colocation agreement with Bitdeer Technologies for a 121-megawatt hydropowered campus in Tydal, Norway, valued at about $4.7 billion. Together, the contracts represent nearly $15 billion in contracted future revenue and underpin lender interest in the financing.