Vast Data in talks with Alphabet’s CapitalG, Nvidia to fund round at up to $30B valuation

Vast Data, an AI storage platform, is reportedly negotiating with CapitalG, the investment arm of Alphabet, along with existing investor Nvidia, to secure a new funding round that could elevate the company's valuation to an impressive $30 billion. This information comes from sources cited by Reuters, revealing a significant increase from the previously reported $25 billion valuation. If successful, this funding round is expected to finalize within the next few weeks, positioning Vast Data, based in New York, among the tech sector's elite, following a valuation of $9.1 billion earlier this year. The startup specializes in innovative storage solutions designed to enhance efficiency within AI data centers. With the surge in demand for AI technology and the recent approval by the U.S. government for expansive data center developments, investment in AI infrastructure companies is rapidly gaining momentum. To date, Vast Data has attracted $380 million in funding, and CEO Renen Halak has stated that the company is currently cash flow positive. According to reports, Vast Data achieved an annual recurring revenue (ARR) of $200 million by January 2025, with forecasts suggesting it could reach $600 million in ARR by next year.