Israeli company VAST Data, which operates from a development canter in the Expo Tel Aviv - International Convention Center and has its head offices in New York, has signed a $1.17 billion contract with US artificial intelligence cloud giant CoreWeave for the provision of data storage services. The contract will be spread over three to five years, adding some $390 million to VAST Data’s annual recurring revenue (ARR). According to a report by Reuters today, VAST Data’s ARR at the beginning of this year was $200 million.
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The two companies are very close to Nvidia, and each has raised capital from it. CoreWeave is a partner of Nvidia in renting out cloud and AI processing space in server farms for companies that prefer to hire these services rather than build a large server farm themselves. For its part, VAST Data has become Nvidia’s main partner in data management and storage, thanks to a hardware system and an original software layer written by the company that is adapted to the AI age.
Among VAST Data’s customers are Elon Musk’s xAI, Amazon Web Services (AWS), and CoreWeave competitor Nebius, which also has an Israeli background. VAST Data was recently valued at over $30 billion in an investment round that has not yet closed.
Published by Globes, Israel business news - en.globes.co.il - on November 6, 2025.
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