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AI storage platform Vast Data aimed for B valuation in new round, sources say

AI storage platform Vast Data aimed for $25B valuation in new round, sources say

Vast Data, which offers an AI-friendly data storage platform, is in the market to raise a new round at a giant leap in valuation.

Earlier this year, the nine-year-old company was seeking a valuation of around $25 billion, according to a person familiar with the deal. Should it achieve that, it would be a massive jump from its $9 billion Series E valuation secured in December 2023.

The deal was not finalized and terms – including its valuation – could change, this person said, adding that the requested valuation was high at the time, despite impressive growth. Many VCs are interested in and watching Vast, other sources tell TechCrunch.

Vast didn’t respond to a request for comment.

Vast Data offers data management software coupled with unified CPU, GPU and data hardware from vendors like Supermicro, HPE and Cisco. Whereas old-school data storage options rely on tiers: low-cost storage options for long-term storage, higher-end options for more frequently used data, Vast aims to eliminate such tiers. It is particularly aimed at flash-storage.

AI has been a boon to Vast’s business. The company’s platform stores structured, semi-structured, and unstructured data in one place, which accelerates data retrieval and, it says, reduces the cost of model training and inference.

The company’s customers include large enterprises such as Pixar, ServiceNow, and Xai, as well as next-generation AI cloud providers like Coreweave and Lambda, which use Vast’s technology to offer storage capabilities to their end-users.

Vast had annual recurring revenue (ARR) of $200 million when it raised its Series E about 18 months ago, TechCrunch reported. The company has been growing at 2.5x to 3x year-over-year, Renen Hallak, Vast’s CEO and co-founder, said on a podcast last May. The company has also been free cash flow positive for four years, Renen said.

On data storage capabilities, Vast competes with a 16-year-old publicly traded Pure Storage that has a market capitalization of nearly $17 billion and a 12-year-old Weka, which last year raised a $140 million round at a $1.6 billion valuation. Vast is also developing a database architecture that is competitive with Databricks’ offering.

Prior to the round it is currently working on, the company has raised a total of $381 million from investors including Fidelity Management & Research Company, NEA, BOND Capital, and Drive Capital.

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The video game disc is dead, and Sony’s been planning to kill it for some time, according to a report out of Austria. The man who leads Sony’s discmaking operations, Sony DADC president Dietmar Tanzer, told ORF Salzburg that the company’s Thalgau plant produces 600,000 discs every day, half of which are for PlayStation. But since it’ll only be making 10 percent of that volume in 2028, it’s planning to retrain all 300 employees to work on optical microlenses instead.

Thalgau isn’t just one of Sony’s disc plants. It’s where the disc-making division is headquartered, and appears to be its only remaining wholly owned disc manufacturing facility. Sony made discs in the United States for decades, originally in Terre Haute, Indiana and later in New Jersey, but it closed the latter plant in 2011 and moved all manufacturing from Indiana to Thalgau in 2022. Today, the Indiana facility markets itself to automakers who need help packaging and assembling headlights and the like instead.

This transition didn’t happen overnight. A behind-the-scenes video from December 2024 shows that the Thalgau plant was already working on microlenses as of then:

Those lenses, too, are created using discs:

ORF Salzburg writes that Sony has now invested €30 million to manufacture these microlenses, and that mass production may begin “as early as next year.”

Microlenses are theoretically used in all kinds of emerging applications where you might want to bend light, including headsets, but it appears that Sony may cater to automakers here, too. The head of Sony’s micro optics division gave ORF Salzburg the example of “a car turn signal that is projected onto asphalt.”

All of this is to say: Sony didn’t make this decision in a hurry, and it isn’t likely to change its mind despite the predictable backlash. It’s been winding down disc manufacturing for decades, and it’s ripping off one last band-aid with PlayStation.

According to Sony DADC’s website, it has produced over 26.4 billion discs to date — the vast majority, 23 billion of them, were made between 1983 and 2022 in Terre Haute, Indiana.

#Sonys #PlayStation #disc #factory #repurposedGaming,News,PlayStation">Sony’s PlayStation disc factory is already being repurposedThe video game disc is dead, and Sony’s been planning to kill it for some time, according to a report out of Austria. The man who leads Sony’s discmaking operations, Sony DADC president Dietmar Tanzer, told ORF Salzburg that the company’s Thalgau plant produces 600,000 discs every day, half of which are for PlayStation. But since it’ll only be making 10 percent of that volume in 2028, it’s planning to retrain all 300 employees to work on optical microlenses instead.Thalgau isn’t just one of Sony’s disc plants. It’s where the disc-making division is headquartered, and appears to be its only remaining wholly owned disc manufacturing facility. Sony made discs in the United States for decades, originally in Terre Haute, Indiana and later in New Jersey, but it closed the latter plant in 2011 and moved all manufacturing from Indiana to Thalgau in 2022. Today, the Indiana facility markets itself to automakers who need help packaging and assembling headlights and the like instead.This transition didn’t happen overnight. A behind-the-scenes video from December 2024 shows that the Thalgau plant was already working on microlenses as of then:Those lenses, too, are created using discs:ORF Salzburg writes that Sony has now invested €30 million to manufacture these microlenses, and that mass production may begin “as early as next year.”Microlenses are theoretically used in all kinds of emerging applications where you might want to bend light, including headsets, but it appears that Sony may cater to automakers here, too. The head of Sony’s micro optics division gave ORF Salzburg the example of “a car turn signal that is projected onto asphalt.”All of this is to say: Sony didn’t make this decision in a hurry, and it isn’t likely to change its mind despite the predictable backlash. It’s been winding down disc manufacturing for decades, and it’s ripping off one last band-aid with PlayStation.According to Sony DADC’s website, it has produced over 26.4 billion discs to date — the vast majority, 23 billion of them, were made between 1983 and 2022 in Terre Haute, Indiana.#Sonys #PlayStation #disc #factory #repurposedGaming,News,PlayStation

video game disc is dead, and Sony’s been planning to kill it for some time, according to a report out of Austria. The man who leads Sony’s discmaking operations, Sony DADC president Dietmar Tanzer, told ORF Salzburg that the company’s Thalgau plant produces 600,000 discs every day, half of which are for PlayStation. But since it’ll only be making 10 percent of that volume in 2028, it’s planning to retrain all 300 employees to work on optical microlenses instead.

Thalgau isn’t just one of Sony’s disc plants. It’s where the disc-making division is headquartered, and appears to be its only remaining wholly owned disc manufacturing facility. Sony made discs in the United States for decades, originally in Terre Haute, Indiana and later in New Jersey, but it closed the latter plant in 2011 and moved all manufacturing from Indiana to Thalgau in 2022. Today, the Indiana facility markets itself to automakers who need help packaging and assembling headlights and the like instead.

This transition didn’t happen overnight. A behind-the-scenes video from December 2024 shows that the Thalgau plant was already working on microlenses as of then:

Those lenses, too, are created using discs:

ORF Salzburg writes that Sony has now invested €30 million to manufacture these microlenses, and that mass production may begin “as early as next year.”

Microlenses are theoretically used in all kinds of emerging applications where you might want to bend light, including headsets, but it appears that Sony may cater to automakers here, too. The head of Sony’s micro optics division gave ORF Salzburg the example of “a car turn signal that is projected onto asphalt.”

All of this is to say: Sony didn’t make this decision in a hurry, and it isn’t likely to change its mind despite the predictable backlash. It’s been winding down disc manufacturing for decades, and it’s ripping off one last band-aid with PlayStation.

According to Sony DADC’s website, it has produced over 26.4 billion discs to date — the vast majority, 23 billion of them, were made between 1983 and 2022 in Terre Haute, Indiana.

#Sonys #PlayStation #disc #factory #repurposedGaming,News,PlayStation">Sony’s PlayStation disc factory is already being repurposed

The video game disc is dead, and Sony’s been planning to kill it for some time, according to a report out of Austria. The man who leads Sony’s discmaking operations, Sony DADC president Dietmar Tanzer, told ORF Salzburg that the company’s Thalgau plant produces 600,000 discs every day, half of which are for PlayStation. But since it’ll only be making 10 percent of that volume in 2028, it’s planning to retrain all 300 employees to work on optical microlenses instead.

Thalgau isn’t just one of Sony’s disc plants. It’s where the disc-making division is headquartered, and appears to be its only remaining wholly owned disc manufacturing facility. Sony made discs in the United States for decades, originally in Terre Haute, Indiana and later in New Jersey, but it closed the latter plant in 2011 and moved all manufacturing from Indiana to Thalgau in 2022. Today, the Indiana facility markets itself to automakers who need help packaging and assembling headlights and the like instead.

This transition didn’t happen overnight. A behind-the-scenes video from December 2024 shows that the Thalgau plant was already working on microlenses as of then:

Those lenses, too, are created using discs:

ORF Salzburg writes that Sony has now invested €30 million to manufacture these microlenses, and that mass production may begin “as early as next year.”

Microlenses are theoretically used in all kinds of emerging applications where you might want to bend light, including headsets, but it appears that Sony may cater to automakers here, too. The head of Sony’s micro optics division gave ORF Salzburg the example of “a car turn signal that is projected onto asphalt.”

All of this is to say: Sony didn’t make this decision in a hurry, and it isn’t likely to change its mind despite the predictable backlash. It’s been winding down disc manufacturing for decades, and it’s ripping off one last band-aid with PlayStation.

According to Sony DADC’s website, it has produced over 26.4 billion discs to date — the vast majority, 23 billion of them, were made between 1983 and 2022 in Terre Haute, Indiana.

#Sonys #PlayStation #disc #factory #repurposedGaming,News,PlayStation

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