VAST Data raises $1B at $30B valuation with Nvidia backing as AI data infrastructure demand accelerates

AI data infrastructure company raised $1 billion in a Series F round at a $30 billion valuation, more than tripling from its previous $9.1 billion valuation. Drive Capital and Access Industries co-led the round, with participation from investors including the GPU giant. Over $500 million is secondary capital. The company reports $4 billion in cumulative bookings, $500 million-plus in committed ARR, and revenue roughly tripling year over year. Key customers include xAI's 200,000-GPU supercomputing cluster and a $1.17 billion agreement with CoreWeave. The company's platform unifies storage, database, and compute in a single flash-first architecture designed specifically for AI workloads, positioning it as the critical data layer between GPUs and AI models.