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

This article was published on April 22, 2026 Dr Abdulla Al Nuaimi with VAST Data leadership at GITEX Global technology event Summary: VAST Data raised $1 billion in a Series F at a $30 billion valuation, more than tripling from $9.1 billion, with Drive Capital and Access Industries co-leading and Nvidia, Fidelity, and NEA participating. More than $500 million is secondary capital. The company reports $4 billion in cumulative bookings, $500 million-plus in committed ARR, and is free cash flow positive with revenue roughly tripling year over year. Key customers include xAI’s 200,000-GPU Colossus cluster and CoreWeave’s $1.17 billion agreement. VAST Data raised $1 billion in a Series F round at a $30 billion valuation, more than tripling the $9.1 billion it was valued at in its Series E in late 2023. Drive Capital and Access Industries co-led the round, with Nvidia, Fidelity Management and Research Company, and NEA participating. More than $500 million of the total is secondary capital, meaning it goes to early investors and employees selling shares rather than into the company’s treasury, a structure that relieves liquidity pressure on long-tenured shareholders and reduces the urgenc