Vast Data, a company specializing in software infrastructure for AI applications, announced a $1 billion funding round that values the company at $30 billion, more than tripling its previous $9.1 billion valuation from 2023 [1]. The Series F round was led by Drive Capital and Access Industries, with participation from Nvidia, Fidelity Management and Research Company, and NEA. The financing included both primary and secondary capital [1].
Vast Data's technology supports projects powering millions of GPUs, and its customer base includes CoreWeave, Mistral, the U.S. Air Force, and Cursor [1]. The company reported surpassing $4 billion in cumulative bookings and ended the previous fiscal year with over $500 million in committed annual recurring revenue [1].
The funding comes amid a surge in global AI investment, with $280.5 billion raised by AI companies this year, including over $170 billion by OpenAI, Anthropic, and xAI, according to Dealroom [1]. Nvidia has increased its financial backing of private startups, contributing to major funding rounds for OpenAI, Anthropic, xAI, neocloud Nscale, and Wayve this year [1].
Chris Olsen, cofounder and partner at Drive Capital, stated, "The scale and speed of AI adoption are creating a new class of infrastructure company. VAST is emerging as the clear leader in this category, with the architecture and momentum to support the world's most demanding AI environments" [1].
CONCLUSION
Vast Data's $1 billion funding round, with Nvidia as a key participant, marks a significant milestone in the AI infrastructure sector, elevating the company's valuation to $30 billion. The deal underscores robust investor confidence in AI infrastructure and Nvidia's strategic role in the ongoing AI investment boom.