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2w ago

VAST Data Raises $1 Billion at a $30 Billion Valuation With Nvidia Backing

The deal signals growing investor conviction that the data layer is core infrastructure for training and running large AI models.

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Overview

  • A $1 billion Series F announced Wednesday values VAST Data at $30 billion with Drive Capital and Access Industries leading.
  • Nvidia joined the investor group as it builds positions in private AI infrastructure firms this year.
  • VAST makes software that stores and serves massive datasets for AI training and inference, with customers including CoreWeave, Mistral, the U.S. Air Force and Cursor.
  • The company said it has surpassed $4 billion in cumulative bookings and ended the last fiscal year with over $500 million in committed recurring revenue along with positive operating margin and free cash flow.
  • The financing combined primary funding with secondary share sales, and VAST plans to use the new capital to expand globally, strengthen partnerships and pursue strategic technology deals after more than tripling its 2023 valuation.