VAST Data has closed its Series F financing at a US$30 billion valuation, more than tripling its US$9.1 billion Series E valuation from late 2023, as demand for AI infrastructure accelerates globally.

The round was led by Drive Capital, with Access Industries as co-lead. Existing investors including NVIDIA, Fidelity Management & Research Company, and NEA also participated, alongside new investors. The total transaction value, including primary and secondary capital, reached approximately US$1 billion.

AI Operating System at the centre of global datacentre buildout

VAST Data positions its platform as an AI Operating System, unifying data, compute, and real-time processing into a single architecture. The company’s DASE (Disaggregated Shared Everything) framework underpins deployments that span millions of GPUs across customers including CoreWeave, Mistral AI, JPMorganChase, and the US Air Force.

Renen Hallak, Founder and CEO of VAST Data, said the convergence of AI applications, models, and infrastructure is driving the company’s central role in the market.

“We are already supporting AI environments spanning millions of GPUs globally, operating across every layer of the AI stack. What is becoming clear is that these layers are no longer independent. Applications, models, and infrastructure now operate as a single system through data.”

US$500 million CARR and Rule of 228 score signal durable growth

VAST Data exited its most recent fiscal year with more than US$500 million in Committed Annual Recurring Revenue and positive operating margin and free cash flow. The company has surpassed US$4 billion in cumulative bookings. Its Rule of X score — a combined measure of growth and profitability — reached 228% in the latest fiscal year.

Chris Olsen, Co-Founder and Partner at Drive Capital, said VAST Data is emerging as the infrastructure leader for demanding AI environments, with the step-change in valuation reflecting both commercial momentum and the firm’s conviction in the category.

Primary proceeds will be directed toward solidifying VAST Data’s position as an AI operating system and funding global expansion, including strategic partnerships and technology acquisitions. The company was founded in 2016 and is headquartered in New York.