Vast Data Triples to $30B in Nvidia-Backed Round, IPO Next

Vast Data just tripled its valuation to $30 billion after closing a $1 billion Series F round, according to Bloomberg AI and CNBC. The round includes both primary capital and secondary share sales, making it one of the largest private funding events in AI infrastructure this year. CEO Renen Hallak confirmed the company is actively preparing for an IPO, ending months of speculation about when the storage startup would go public.

Nvidia's backing is more than symbolic. The chip giant participated in this round as it has in previous ones, cementing a strategic partnership that goes beyond capital. Vast's data platform powers some of the world's largest AI training clusters, and Nvidia needs proven storage partners to sell more GPUs. The relationship gives Vast preferred access to Nvidia's latest hardware while providing Nvidia with a validated storage stack for its AI cloud customers.

This funding round effectively positions Vast as the next major AI infrastructure IPO. At $30 billion, the company enters rare air among private tech companies. Hallak told Bloomberg the company is now "readying itself" for public markets, suggesting filing could happen within 6-12 months. The timing makes sense: AI infrastructure companies are commanding premium valuations, and Vast has the revenue growth to justify it.

Vast has grown revenue at triple-digit rates for three consecutive years, according to Techzine. The company sells a unified data platform that combines storage, database, and compute services optimized for AI workloads. Major customers include Fortune 500 enterprises running large language model training and cloud providers building AI services. The company claims to be profitable, which is unusual for a growth-stage startup at this scale.

This valuation reset has immediate implications across the AI infrastructure stack. Storage competitors like Pure Storage and NetApp face pressure to demonstrate AI relevance. Cloud providers must decide whether to partner with Vast or build competing solutions. Enterprise buyers now have a $30 billion benchmark for negotiating AI infrastructure deals. The round also validates the thesis that AI infrastructure companies can achieve software-like valuations despite selling hardware-heavy solutions.

Expect Vast to file confidential IPO paperwork within months. The company will likely use this funding to expand internationally and accelerate product development ahead of going public. Watch for secondary market activity as early investors and employees take some liquidity. Most importantly, this sets the stage for 2026's first major AI IPO, which could open the floodgates for other infrastructure companies waiting in the wings.