Step 1 Soak the bread in enough water to cover until it is softened. Squeeze out the water and place the bread in a food processor or blender with the almonds and garlic. Pulse until the almonds are finely ground.
Step 2 With the motor running, add the oil in a slow stream, then the vinegar and salt. Blend in some of the 2 cups water, then pour the mixture into a pitcher and add remaining water. This makes about 4 1/2 cups gazpacho.
Step 3Serve immediately or chill until serving time. Stir before serving. Serve the gazpacho in small bowls with grapes.