Nvidia backs AI company Vast Data at $30 billion valuation

Vast Data announced a $1 billion funding round at a $30 billion valuation on Wednesday, with Nvidia

among those backing the AI company.

Founded in 2016, Vast makes software infrastructure for managing large amounts of data, with a focus on AI applications. The company says it supports projects powering millions of GPUs. Customers include CoreWeave, Mistral, the U.S. Air Force and Cursor.

The fresh round sees Vast more than triple the $9.1 billion valuation it hit when it last raised in 2023.

Record funding has already been raised this year by AI companies globally, with investors writing checks to the tune of $280.5 billion, according to Dealroom. More than $170 billion has been raised by OpenAI, Anthropic and xAI.