VAST Data, the AI operating system company, has closed its Series F financing at a US$30 billion valuation, representing more than a threefold increase from its US$9.1 billion Series E valuation in late 2023.
The latest round was led by Drive Capital, with Access Industries acting as co-lead, and included participation from existing investors including Fidelity Management & Research Company, NEA, and NVIDIA, alongside new investors.
This financing reflects the accelerating demand for a new data infrastructure stack needed for the development and deployment of artificial generally intelligent systems.
The financing included primary and secondary capital, bringing the total transaction value to approximately US$1 billion. Primary proceeds will be used by VAST Data to solidify its position as the AI operating system at the centre of the AI ecosystem and to further fuel global growth, including strategic transactions that expand its technology footprint and partnerships.
Founded in 2016, VAST Data reimagined distributed systems for a future where AI would demand a fundamentally new approach to data and compute.
Starting from a blank sheet of paper, the company created DASE (Disaggregated Shared Everything), a new architecture designed to break longstanding trade-offs between scale, simplicity, performance, and cost.
Over the following decade, VAST expanded this foundation into a full data and computing platform aligned to the subsequent waves of modern AI. Today, the VAST AI Operating System sits at the centre of this transformation, unifying data, compute, and real-time processing into a single system.
This architecture collapses traditionally separate layers of the stack, enabling organisations to build, train, and run AI models while powering the applications and agents that depend on them, all at global scale.
Thousands of organisations rely on VAST to store, contextualise, and act on data, supporting environments that power millions of GPUs and some of the world’s most advanced AI training and inference initiatives.
“We are already supporting AI environments spanning millions of GPUs globally, operating across every layer of the AI stack,”said Renen Hallak, founder and CEO of VAST Data.
“What is becoming clear is that these layers are no longer independent. Applications, models, and infrastructure now operate as a single system through data. VAST sits at the centre of how that system works, which is why we are seeing this level of demand at global scale,” said Hallak.
Chris Olsen, co-founder and partner at Drive Capital, said the scale and speed of AI adoption are creating a new class of infrastructure company.
“VAST’s data platform enables us to efficiently manage and scale the massive datasets required to train frontier models, ensuring high performance and flexibility across our training pipelines,” said Timothée Lacroix, co-founder and CTO of Mistral AI.
Larry Feinsmith, managing director, JPMorganChase, said the VAST platform is a key enabling technology for next-gen AI infrastructure initiatives – providing a modern, flexible data architecture for generative AI applications and agentic workflows.
Our partnership with VAST Data has grown more than 10x this past year and continues to accelerate — a reflection of how critical an AI data platform is to training and inference workloads on Crusoe Cloud,” said Erwan Menard, SVP product management at Crusoe.
