AI storage vendor Vast Data is reportedly set to raise around $1 billion at a valuation of $30 billion.

According to a report from Israeli news agency Globes, Vast’s existing shareholders are set to sell shares in a move that could well see them bank hundreds of millions of dollars.

Should the reported raise come to pass, it could represent the largest-ever fundraising by a private Israeli company. Holders of the record currently are Wiz, the cloud security firm being acquired by Google, which raised around $1 billion in May 2024 to fuel acquisitions for Gem Security, and a failed attempt to pick up Lacework, which ended up in the hands of Fortinet.

Vast Data was founded in 2016, with the New York-based firm having gone on to become one of the hottest new players in the storage space.

Its flagship AI Operating System unifies storage, database, and compute services based on its Disaggregated Shared-Everything (DASE) platform, which allows every compute node to access a shared pool of off-the-shelf flash storage simultaneously, eliminating communication bottlenecks and scaling limits in traditional cluster architectures.

The company’s last raise took place in 2023, which saw it garner $118 million against a valuation of $9 billion.

But in recent months, Vast has witnessed a meteoric rise, culminating in one mega deal after another. Having secured a $1.17 billion deal with CoreWeave in early November, Vast went on to secure two hyperscale deals just days apart with Google Cloud and shortly after Microsoft.

“We're definitely architecting for this new AI era of training and inference. … All of these things run on Vast in ways that they can't run on old infrastructure," CEO Renen Hallak told SDxCentral late last year.

Vast’s reported efforts to value itself at $30 billion have been in the works for some time. A report emerged last August that suggested the company was in talks with investors that included Nvidia and Alphabet-owned investment fund CapitalG.

In addition to working in tandem with custom hyperscale hardware, Vast’s architecture is designed to align with Nvidia offerings, including GB200 NVL72, H100, and H200 systems used by neoclouds like CoreWeave, Crusoe, and GMI Cloud.

Beyond reports of raising funds, one project Vast is working on is Amplify, an effort to repurpose underutilized or legacy solid-state drives (SSDs).

An SDxCentral scoop revealed the project under the "Flash Reclamation Program" working name, which looks to help customers get ahead of the ongoing memory shortage by giving existing SSDs a new lease of life and ultimately boost capacity.