Vast Data Targets $30B Valuation in New Round with Nvidia

• Vast Data’s funding round may value it at $30 billion, led by CapitalG, Nvidia.
• Specializes in AI data center storage, serving clients like xAI and CoreWeave.
• Achieved $200 million ARR in 2025, projects $600 million next year, IPO planned

New York-based Vast Data is in advanced talks to raise several billion dollars in a funding round that could value the startup at up to $30 billion. The round, expected to close in the coming weeks, includes participation from Alphabet’s growth-stage venture arm, CapitalG, and existing investor Nvidia. This positions Vast Data among the most valuable AI startups, as investors increasingly target companies driving the AI revolution.

Specializing in storage solutions for large-scale AI data centers, Vast Data optimizes data flow across graphics processing units (GPUs), such as those produced by Nvidia. Its clients include high-profile companies like Elon Musk’s xAI and AI cloud-computing firm CoreWeave.

Bankers and analysts highlight Vast Data’s critical role in the AI supply chain, making it an attractive acquisition target.

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The company has shown strong financial performance. According to CEO Renen Halak, Vast Data is free cash flow positive and achieved $200 million in Annual Recurring Revenue (ARR) as of January 2025, with projections to reach $600 million in ARR next year. Having raised $380 million to date, its last funding round in 2023 valued the company at $9.1 billion.

Vast Data is also considering going public, possibly with an Initial Public Offering (IPO) soon, provided, as always, the market is right. To prepare for the IPO, Vast Data hired Amy Shapero, the former CFO at public company Shopify, and a year ago as the company’s first CFO.

Vast Data’s technology is advanced beyond competitors such as Weka and DDN, providing a market-leading position in the AI infrastructure space.