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AI storage platform Vast Data is in talks with Alphabet’s venture arm CapitalG and Nvidia to raise funds that could value the startup at up to $30 billion, according to Reuters.
TechCrunch previously reported that Vast Data was looking to raise funds at a $25 billion valuation.
### Big Numbers, Big Talks
The round could be finalized in the coming weeks, making Vast Data, based in New York and last valued at $9.1 billion in 2023, one of the most valuable tech companies.
### Storage Tech for AI Boom
Vast Data develops storage technology that promises efficiency in AI data centers. With the AI industry booming and the U.S. government approving the expansion of data centers, AI infrastructure startups like Vast Data are attracting significant investor interest.
The startup has already raised $380 million and CEO Renen Hallak mentioned that the company is generating positive cash flow. Sources also revealed that Vast Data reached $200 million in annual recurring revenue (ARR) by January 2025, with expectations to grow to $600 million in ARR next year.
