US-Based VAST Data Raises $1B in Series F to Accelerate MENA Expansion

US-based AI infrastructure company VAST Data has raised approximately $1 billion in a Series F funding round, reaching a valuation of $30 billion as it expands operations in the Middle East.

The round was led by Drive Capital, with Access Industries as co-lead, and included participation from NVIDIA, Fidelity and NEA. The company said the financing combines both primary and secondary capital and will be used to support global expansion, strategic transactions and continued development of its AI infrastructure systems.

Founded in 2016, VAST Data is building what it describes as an AI Operating System that unifies data, compute and real-time processing. The latest valuation marks a more than threefold increase from $9.1 billion in late 2023.

The company confirmed it already has a presence in Saudi Arabia and the UAE, with the new funding expected to accelerate expansion across these markets as demand for AI infrastructure grows.

“We are already supporting AI environments spanning millions of GPUs globally,” said founder and CEO Renen Hallak. “Applications, models and infrastructure now operate as a single system through data.”

VAST Data reported more than $4 billion in cumulative bookings and over $500 million in committed annual recurring revenue at the end of its fiscal year 2026, alongside positive operating margins and free cash flow.

The company said its platform is used to support large-scale AI systems and model training, with customers including CoreWeave, Lowe’s, the US Air Force and Cursor.