AI storage platform Vast Data is currently in discussions with Alphabet’s venture arm CapitalG and existing investor Nvidia to secure a new funding round that could value the startup at up to $30 billion. According to sources, the round may close in the coming weeks, which would position the New York-based company—last valued at $9.1 billion in 2023—among the most valuable tech firms.
Earlier reports indicated that Vast Data was aiming for a $25 billion valuation in its latest funding efforts. The company specializes in storage technology designed to enhance efficiency in AI data centers. With the AI boom accelerating and the U.S. government supporting large-scale data center expansion, AI infrastructure startups like Vast Data are attracting significant investor interest.
To date, Vast Data has raised $380 million in funding. CEO Renen Halak has stated that the company is free cash flow positive. Sources reveal that the startup generated $200 million in annual recurring revenue by January 2025, with expectations to reach $600 million in the next year.