VAST Data announced the close of its Series F financing at a $30 billion valuation, marking more than a threefold increase from its $9.1 billion valuation in 2023 and reflecting surging demand for next-generation AI infrastructure.
The round, valued at approximately $1 billion including primary and secondary capital, was led by Drive Capital with Access Industries as co-lead. Additional participants included Fidelity Management & Research Company, NEA, and NVIDIA, along with new investors.
The company said the funding will be used to expand its global footprint, support strategic transactions, and further develop its AI Operating System, which integrates data, compute, and real-time processing into a unified platform designed for large-scale AI environments.
VAST Data’s architecture, built on its Disaggregated Shared Everything (DASE) model, is designed to eliminate traditional tradeoffs between performance, scalability, and cost. The platform enables organizations to build, train, and deploy AI models while managing massive datasets and powering real-time applications and agentic workflows.
The company has become a foundational component of global AI infrastructure, supporting environments spanning millions of GPUs and serving customers including CoreWeave, Lowe’s, the U.S. Air Force, and Cursor.
VAST Data reported strong financial performance, surpassing $4 billion in cumulative bookings and exceeding $500 million in committed annual recurring revenue, while maintaining positive operating margins and free cash flow. The company also reported a Rule of X score of 228%, reflecting a combination of rapid growth and profitability.
The announcement comes amid a broader surge in AI-driven infrastructure investment, with global spending expected to reach tens of trillions of dollars as organizations build out data centers, computing systems, and software platforms to support advanced AI workloads.
KEY QUOTES
“We are already supporting AI environments spanning millions of GPUs globally, operating across every layer of the AI stack. What is becoming clear is that these layers are no longer independent. Applications, models, and infrastructure now operate as a single system through data. VAST sits at the center of how that system works, which is why we are seeing this level of demand at global scale.”
Renen Hallak, Founder And CEO, VAST Data
“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. The step-change in valuation reflects both that momentum and our conviction in VAST’s role at the center of this market.”
Chris Olsen, Co-Founder And Partner, Drive Capital
“As we push the boundaries of large-scale model training, the foundation of our infrastructure becomes critical. VAST’s data platform enables us to efficiently manage and scale the massive datasets required to train frontier models, ensuring high performance and flexibility across our training pipelines.”
Timothée Lacroix, Co-Founder And CTO, Mistral AI
