Fidelity Backs AI Infrastructure Startup at $9 Billion-Plus Valuation

Vast Data, an AI software and storage startup backed by Nvidia, raised a new funding round led by Fidelity Investments and including participation of venture capital firms NEA and Bond. The round values Vast Data at more than $9 billion, people familiar with the matter said, compared to its valuation of $3.7 billion set in 2021.

Seven-year old Vast Data plans to use some of the proceeds of the fundraising to buy back stock from existing shareholders, the people said. …

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