CapitalG and Nvidia in Talks to Value Vast Data at $30B - InforCapital

New York / San Francisco – Artificial intelligence infrastructure company Vast Data is in advanced talks to raise a new multi-billion-dollar funding round that could value the company at up to $30 billion. CapitalG, the growth investment arm of Alphabet, and Nvidia are in discussions to participate in the round alongside other venture capital and private equity investors.

The deal, expected to close in the coming weeks, would place Vast Data among the most valuable AI startups globally, reflecting the increasing investor demand for companies building the underlying systems powering the AI boom.

Headquartered in New York, Vast Data develops data storage architecture optimized for large-scale AI data centers. Its technology enables high-efficiency data flow between GPUs, particularly those manufactured by Nvidia. The firm serves high-profile clients such as xAI and CoreWeave, key players in the expanding AI infrastructure supply chain.

Vast Data’s last funding round in 2023 valued the company at $9.1 billion. Since then, its annual recurring revenue (ARR) surpassed $200 million by January 2025, with projections to grow to $600 million in 2026. The company is reportedly free cash flow positive and holds a strong backlog of contracted business. It has raised approximately $380 million to date.

In 2024, Vast Data appointed Amy Shapero, former CFO of Shopify, as its first Chief Financial Officer — a move that signals potential IPO readiness. Although no public listing is imminent, the company is widely seen as a prime IPO candidate within the next 12 to 18 months.

This potential $30 billion valuation places Vast Data alongside other infrastructure-focused AI firms attracting massive capital inflows. In July 2025, CoreWeave raised $1.1 billion from Blackstone and Magnetar Capital at a $19 billion valuation to build out GPU cloud capacity. Earlier, SambaNova Systems raised $650 million at a $5 billion valuation to expand its custom AI chips and infrastructure stack. In April, Cerebras Systems secured $500 million in funding to scale its wafer-scale systems used in generative AI training.

Nvidia continues to play a central role in the ecosystem, not only as a chip supplier but as an active investor and acquirer. Following its $6.9 billion acquisition of Mellanox in 2020, Nvidia has also acquired AI software orchestration company Run:ai and continues to explore other synergistic deals in data center infrastructure.

Vast Data’s architecture, which combines flash storage with off-the-shelf hardware and proprietary software, claims to reduce the cost and complexity of building and operating massive AI workloads. The firm is rapidly becoming essential to AI model developers and hyperscalers seeking to optimize performance and reduce total cost of ownership.

The upcoming investment round could further cement Vast Data’s position as a key enabler in the global AI buildout, and bolster its financial and strategic capacity ahead of a potential public offering.