VAST Data, a company specializing in AI operating systems and data infrastructure, has raised nearly $1 billion in a Series F funding round, boosting its valuation to $30 billion, up from $9.1 billion in 2023.

The round was led by Drive Capital and Access Industries, with participation from major investors including Fidelity Management, New Enterprise Associates, and Nvidia, alongside new investors. The funding included both primary and secondary investments.

Founded in 2016 in New York, VAST Data has positioned itself as a key player in AI infrastructure, supporting projects that manage millions of GPUs for major clients such as CoreWeave, Mistral AI, and U.S. government entities.

The company has surpassed $4 billion in cumulative bookings, with annual recurring revenue exceeding $500 million in the last fiscal year.

VAST Data plans to use the new funding to accelerate global expansion, enhance its technology footprint, and build strategic partnerships, amid a surge in global AI investments, which have exceeded $280 billion this year, according to Dealroom.