Vast Data closed a Series F at a $30 billion valuation — more than triple the $9.1 billion it was valued at in late 2023 — in a ~$1B transaction combining primary and secondary capital, with Drive Capital leading and Nvidia, Fidelity, and NEA participating. The AI storage and data infrastructure company reported over $4 billion in cumulative bookings and exited its last fiscal year with more than $500 million in committed annual recurring revenue and positive free cash flow. More than half of the total transaction was secondary capital, relieving liquidity pressure on early employees and investors without requiring an imminent IPO.