VAST Data hits $30B valuation targeting AI cache storage

VAST Data has closed its Series F at a $30 billion valuation, more than tripling its 2023 value, with Nvidia among its investors. The company is positioning itself as a core AI infrastructure provider, recently building a single 1-exabyte storage cluster supporting 300,000 GPUs. VAST is now targeting KV cache storage for disaggregated inference workloads, which co-founder Jeff Denworth calls its biggest pipeline opportunity. The company is also expanding into neoclouds, helping AI-native service providers offer full data service catalogs with margins reportedly reaching 98% gross margin on vector database services.