- US-based AI infrastructure company VAST Data has raised about $1 billion in a Series F round, valuing the company at $30 billion.
- The round was led by Drive Capital, with Access Industries acting as co-lead, and also included participation from NVIDIA, Fidelity, and NEA.
- Founded in 2016 by Renen Hallak, VAST Data develops an AI operating system that unifies data, compute, and real-time processing on a single platform.
- The company has a presence in Saudi Arabia and the UAE and plans to use the funding to accelerate global expansion, pursue strategic acquisitions, and further develop its AI infrastructure systems.
VAST Data, the AI Operating System company, has announced the closing of its Series F financing at a $30 billion valuation, representing more than a threefold increase from its $9.1 billion Series E valuation in late 2023. The round was led by Drive Capital, with Access Industries acting as co-lead, and included participation from existing investors such as NVIDIA, Fidelity, and NEA, alongside additional new investors. The financing includes both primary and secondary capital, bringing the total transaction value to approximately $1 billion.
This latest funding reflects accelerating global demand for a new data infrastructure stack designed to support the development and deployment of artificial general intelligence systems. Primary proceeds from the round will be used by VAST Data to further strengthen its position as the AI Operating System at the center of the AI ecosystem, as well as to accelerate global expansion efforts, including strategic transactions aimed at broadening its technology footprint and deepening its partnerships.
The company’s vision is grounded in what it describes as a massive transformation in computing driven by AI, which is expected to reshape trillions of dollars in global economic activity. VAST Data argues that this shift is already materializing as a large-scale industrial buildout approaching $100 trillion, spanning AI factories and software systems powered by a new era of parallel computing at unprecedented scale.
Founded in 2016 at the early stages of deep learning adoption, VAST Data set out to reimagine distributed systems for an AI-first world, where traditional approaches to data and compute infrastructure would no longer be sufficient. The company developed DASE (Disaggregated Shared Everything), an architecture designed to eliminate long-standing tradeoffs between scale, simplicity, performance, and cost.
Over the past decade, VAST has expanded this foundation into a full-stack data and computing platform aligned with the evolving needs of modern AI workloads. Its AI Operating System now sits at the center of this ecosystem, unifying data, compute, and real-time processing into a single integrated system. This approach collapses traditionally separate layers of the technology stack, enabling organizations to build, train, and run AI models while simultaneously powering applications and agents that depend on them at global scale.
Commercially, VAST Data has become a core infrastructure provider in the global AI data center buildout. Its platform is used by thousands of organizations across industries, including companies such as CoreWeave and Lowe’s, as well as institutions like the U.S. Air Force and AI development platforms such as Cursor. These customers rely on VAST to store, contextualize, and process data in environments that support millions of GPUs and some of the world’s most advanced AI training and inference workloads.
According to Renen Hallak, Founder and CEO of VAST Data, the company is already supporting AI environments that span millions of GPUs globally across multiple layers of the AI stack. He emphasized that these layers are increasingly converging, with applications, models, and infrastructure operating as a single system through data. In his view, VAST Data is positioned at the center of this system, which is driving strong global demand at scale.
The company also highlights its financial and operational performance as evidence of sustainable growth. VAST Data has surpassed $4 billion in cumulative bookings and exited fiscal year 2026 with more than $500 million in committed annual recurring revenue (CARR). It also reports positive operating margin and free cash flow. In its most recent fiscal year, the company achieved a Rule of X score of 228%, which it presents as an indicator of strong growth combined with profitability.
VAST argues that as AI infrastructure scales globally, customers are increasingly prioritizing partners that not only provide advanced technology but also demonstrate financial durability and long-term operational stability. The company positions its performance metrics as evidence of its ability to support large-scale, demanding AI environments while maintaining a strong growth trajectory.
Industry participants have also pointed to the company’s momentum and market positioning. Chris Olsen, Co-Founder and Partner at Drive Capital, described AI as creating a new class of infrastructure companies, with VAST emerging as a leader in the category due to its architecture and market traction. He noted that the increase in valuation reflects both the company’s momentum and investor conviction in its role at the center of the AI infrastructure market.
From the customer side, Timothée Lacroix, Co-Founder and CTO of Mistral AI, highlighted the importance of VAST’s platform in supporting large-scale model training, noting that it enables efficient management and scaling of massive datasets required for frontier AI models while maintaining performance and flexibility across training pipelines.
Similarly, Larry Feinsmith, Managing Director and Head of Global Tech Strategy, Innovation and Partnerships at JPMorgan Chase, described the VAST platform as an enabling technology for next-generation AI infrastructure initiatives. He emphasized its role in providing a modern and flexible data architecture for generative AI applications and agentic workflows.
