VAST Data, the AI Operating System company, today announced the closing of its Series F financing at a $30 billion valuation, representing more than a threefold increase from its $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 NVIDIA, Fidelity, and NEA, 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 $1 billion. Primary proceeds will be used by VAST Data to solidify its position as the AI Operating System at the center of the AI ecosystem and to further fuel global growth, including strategic transactions that expand its technology footprint and partnerships.
The Data Computing Foundation That Is Enabling AI at Global Scale
Industry leaders describe AI as a generational shift set to reshape trillions of dollars of global economic activity. This is now materializing as a massive industrial buildout approaching $100 trillion in scale, spanning AI factories and software systems, powered by a new era of parallel computing at levels previously unimaginable.
Founded in 2016 at the dawn of deep learning, 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 tradeoffs between scale, simplicity, performance, and cost.
Over the following decade, VAST expanded this foundation into a full data and computing platform aligned to each wave of modern AI. Today, the VAST AI Operating System sits at the center of this transformation, unifying data, compute, and real-time processing into a single system. This architecture collapses traditionally separate layers of the stack, enabling organizations to build, train, and run AI models while powering the applications and agents that depend on them, all at global scale.
Commercially, the VAST AI OS has become an essential component of the global AI datacenter buildout. From CoreWeave to Lowe’s, from the U.S. Air Force to Cursor, thousands of organizations rely on VAST to store, contextualize, 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 center of how that system works, which is why we are seeing this level of demand at global scale.”
High Growth, Built for Durability
The Company has surpassed $4 billion in cumulative bookings and exited fiscal year 2026 with more than $500 million in Committed Annual Recurring Revenue (CARR), along with positive operating margin and free cash flow. In its most recent fiscal year, VAST Data delivered a Rule of X score of 228%, reflecting an unparalleled combination of rapid growth and strong profitability.
As organizations scale AI, they are prioritizing partners that are not only providing disruptive technology, but who also are building sustainable and professional and financially-durable businesses that can continue to innovate and support the world’s AI infrastructure. VAST’s Rule of 228% is testament to VAST being optimally positioned to support the largest and most demanding AI environments with near-infinite runway to continue its growth trajectory.
Industry Validation and Customer Momentum
“The scale and speed of AI adoption are creating a new class of infrastructure company,” said Chris Olsen, Co-Founder and Partner at Drive Capital. “VAST is emerging as the clear leader in this category, with the architecture and momentum to support the world’s most demanding AI environments. The step-change in valuation reflects both that momentum and our conviction in VAST’s role at the center of this market.”
“As we push the boundaries of large-scale model training, the foundation of our infrastructure becomes critical,” said Timothée Lacroix, Co-Founder and CTO of Mistral AI. “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.”
“The VAST platform is a key enabling technology for next gen AI infrastructure initiatives – providing a modern, flexible data architecture for Gen AI applications and agentic workflows,” said Larry Feinsmith, Managing Director, Head of Global Tech Strategy, Innovation and Partnerships at JPMorgan Chase.
