Nvidia-Backed Vast Data Hits $30B Valuation in $1B Funding Round
Vast Data, an AI data company backed by Nvidia, has raised $1 billion in a Series F funding round led by Drive Capital and Access Industries. The round values the company at $30 billion, more than triple its $9.1 billion valuation in 2023. The investment underscores the surging demand for data infrastructure to support AI workloads. Vast Data provides high-performance storage and data management solutions for AI and machine learning applications. The company plans to use the funds to expand its platform and accelerate global growth. Nvidia's involvement highlights the strategic importance of data infrastructure in the AI ecosystem.
Key facts
- Vast Data raised $1 billion in Series F funding.
- The round was led by Drive Capital and Access Industries.
- The company is valued at $30 billion.
- This valuation is more than three times its 2023 valuation of $9.1 billion.
- Nvidia is a backer of Vast Data.
- Vast Data provides data infrastructure for AI workloads.
- The funds will be used for platform expansion and global growth.
- The investment reflects high demand for AI data infrastructure.
Entities
Institutions
- Vast Data
- Nvidia
- Drive Capital
- Access Industries
Sources
- Quartz —