Core Insights - Nvidia is reshaping the cloud computing market by supplying AI chips to emerging cloud service providers, and its influence is extending into data storage [2][3] - Vast Data, a company invested in by Nvidia, provides data storage software for major clients like xAI and Zoom, enabling them to develop AI applications [3][4] - Vast Data reported a 300% increase in signed orders, reaching nearly $800 million in expected revenue for the year ending January 31 [3][4] Company Performance - Vast Data aims to achieve $2 billion in signed orders by the end of its current fiscal year in January 2026 [3] - The company expects to generate over $100 million in revenue for 2023, more than triple its 2022 sales, with a projected revenue of $200 million by the end of 2023 [4] - Vast Data is currently negotiating financing at a valuation of approximately $30 billion, significantly higher than its previous valuation of over $9 billion [5] Competitive Landscape - Vast Data's revenue is still small compared to competitors like Pure Storage and NetApp, despite its high valuation [5] - Nvidia has also invested in Weka, a smaller competitor to Vast, which reported over $100 million in annual recurring revenue as of January 31 [7] - Vast Data's software is designed to allow quick access to large datasets, crucial for training AI models, and it aims to compete directly with database providers like Snowflake and Databricks [10][11] Technological Advancements - Vast Data's storage system was certified by Nvidia as an "enterprise-grade" product for large chip clusters in 2023 [8][12] - The software architecture allows for efficient data management, offloading less critical data to lower-cost storage while keeping high-speed access for AI servers [11][12] - The company has transitioned to serve a new clientele focused on large-scale AI development, expanding beyond its traditional customer base of hedge funds and research institutions [12] Strategic Partnerships - Nvidia's support has positioned Vast Data as a key player in the cloud services market, helping it to establish connections with startups that aim to compete with traditional cloud giants [10] - CoreWeave, a significant client of Vast Data, has benefited from its storage software to support AI application development [10]