VAST Data valued at $30 billion in latest funding round

VAST Data said on Wednesday it was valued at $30 billion in its latest funding round, growing more than threefold since 2023, helped by strong interest in companies that build the infrastructure needed for artificial intelligence.

The New York-based company, which is backed by Nvidia, said the ‌Series F ⁠round ⁠fetched it about $1 billion in primary and secondary capital, and was led ​by Drive Capital and Access Industries.

Existing investors, including Fidelity Management & Research Company, NEA ​and Nvidia, also participated in the round, along with new parties.


The rapid adoption of AI has fueled demand for data centers, semiconductors, cloud capacity and high-performance computing ⁠needed to ‌train and run increasingly complex models, driving investor interest in infrastructure providers that support the ecosystem.

VAST Data, ⁠founded in 2016, builds software that helps companies ​store and process large volumes of information used ​to train and run artificial intelligence systems.

The company, which counts Elon Musk's xAI and CoreWeave and the U.S. Air Force, among others, as its customers, was valued at $9.1 billion in 2023.

"The VAST platform is a key enabling technology for ‌next gen AI infrastructure initiatives - providing a modern, flexible data architecture for Gen AI applications and agentic ​workflows," said ​Larry Feinsmith, managing ⁠director and head of Global Tech Strategy, Innovation and Partnerships at JPMorgan Chase.

Primary proceeds from the latest raise will be used to ​expand VAST Data's global footprint, strengthen partnerships and pursue strategic transactions to broaden its technology platform.

The company in November signed a $1.17 billion commercial agreement with cloud provider CoreWeave, extending their existing partnership.