Penguin's Mystery 36,000-GPU Norway Deal Appears to Be Volta's $10B Anthropic AI Project

Penguin Solutions Inc. (NASDAQ:PENG), which builds and manages large AI computing systems, disclosed a mystery 36,000-GPU project in Norway Tuesday whose details closely match a $10 billion Volta Infrastructure buildout that Bloomberg has reported is for Anthropic. Penguin said an unnamed cloud infrastructure customer hired it to deploy and operate the facility. That customer has $10 billion of contracted computing demand from what Penguin called a "leading AI lab." The Numbers Match Volta One day before Penguin’s disclosure, Bloomberg reported that Volta Infrastructure was seeking financing to buy approximately 36,000 Nvidia Corp. (NASDAQ:NVDA) GPUs for its Norway project. Volta, an AI infrastructure company that develops and finances large data center projects, had already announced a $10 billion Norway compute deal with an unnamed AI lab. Bloomberg later reported the customer was Anthropic, which neither company has confirmed. Penguin has not named Volta as its customer. But the details line up closely: Norway, roughly 36,000 GPUs and a $10 billion AI-lab compute agreement. The Norway project alone would equal more than one-third of the 99,000-plus GPUs Penguin says it has already deployed. Penguin, Volta and Anthropic did not immediately respond to requests for comment. The $5 Billion Loan Bitdeer Technologies Group (NASDAQ:BTDR) owns the Norway data-center site, adding another piece to the puzzle. A Volta subsidiary signed a 16-year lease worth about $4.7 billion for Bitdeer’s Norway campus. Its 121 megawatts of IT capacity are expected to run Nvidia GPUs for a leading AI lab. Bloomberg reported Volta is seeking about $5 billion in financing. Roughly $3.7 billion would fund the 36,000 Nvidia GPUs, while $1.3 billion would support the Bitdeer lease. JPMorgan is reportedly pitching investors an all-in yield of about 11%. The $10 billion figure is not the value of Penguin’s contract. It refers to the compute commitment between the AI lab and Penguin’s unnamed customer. The buildout comes as Anthropic moves toward a potential public listing. Polymarket traders put the chance of a November IPO at about 71%, with roughly $352,000 traded. Penguin reported quarterly results Tuesday showing revenue rose 68% to $566.7 million and raised its fiscal 2027 outlook. Shares jumped more than15% in Wednesday morning trading. Image: Shutterstock Read Also: Nvidia Strength Is Masking ‘A Whole Lot of Pain’ in the Broader Market, David Rosenberg Says