Vast Data announced a $1 billion funding round on Wednesday at a valuation of $30 billion. Nvidia Some of the people who support AI companies.
Founded in 2016, Vast creates software infrastructure for managing large amounts of data, with a focus on AI applications. The company says it supports projects to power millions of GPUs. Customers include CoreWeave, Mistral, US Air Force, and Cursor.
This new round more than triples Vasto’s $9.1 billion valuation when it last raised in 2023.
Already this year, AI companies around the world have raised record funding, with investors writing checks worth $280.5 billion, according to Deal Room. Over $170 billion has been raised by OpenAI, Anthropic, and xAI.
Drive Capital and Access Industries led Vast Data’s Series F. Fidelity Management and Research Co and NEA participated, as did Nvidia. Financing included primary and secondary capital.
“The scale and speed of AI adoption is creating a new class of infrastructure companies,” Chris Olsen, co-founder and partner at Drive Capital, said in a statement.
“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 company announced that it had more than $4 billion in cumulative bookings and ended the previous fiscal year with more than $500 million in annual recurring revenue commitments.
Nvidia has stepped up its financial support for private startups over the past year as it seeks to solidify its position at the center of the AI boom.
So far this year, the chip giant has contributed to large funding rounds for AI labs OpenAI, Anthropic, and xAI, along with other companies such as neocloud Nscale and self-driving car company Wayve.
