Nvidia Backs AI Company Vast Data at $30 Billion Valuation

Vast Data raised a $1 billion Series F round, pushing its valuation to $30 billion. That's more than triple the $9.1 billion valuation from its previous round in 2023.

The round was led by Drive Capital and Access Industries, with participation from Nvidia, Fidelity Management and Research Co., and NEA. The investment included both primary and secondary capital.

Founded in 2016, Vast Data builds software infrastructure for managing large-scale data, with a focus on AI applications. The company says it supports projects running millions of GPUs, with customers including CoreWeave, Mistral, the U.S. Air Force, and Cursor.

The company said it has surpassed $4 billion in cumulative bookings and secured more than $500 million in committed annual recurring revenue (ARR) by the end of its last fiscal year. Meanwhile, AI companies worldwide raised $280.5 billion this year according to Dealroom, with OpenAI, Anthropic, and xAI each continuing to close large funding rounds.