The hybrid data storage company set data, which was founded by Israeli entrepreneurs and has a development center in Tel Aviv, is in advanced conversations with Alphabet (Google) and NVIDIA to raise several billions of dollars to an assessment of the setback company. “If this financing round is completed, fixed data will become the second most valuable Israeli Private Heroel Technology Company after the cyber security company.
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Permanent data seeks to raise funds at $ 25b
The round will be directed by Capitalg, the alphabet investment arm, together with Nvidia, which is an existing investor. Permanent data are developing advanced storage technology for AI data centers, which allows rapid and efficient data transfer between GPU chips, a key component or infrastructure to execute smart models such as ChatGPT. Its customers include companies such as Elon Musk’s XAI, Cloud Company Coreweave and the main companies in the security sectors, medical care and finance.
Despite operating in stealth for almost a decade, fixed data have become a key player in the AI sector, even through strategic associations with NVIDIA. According to the sources of the industry, the CEO of Nvidia, Jensen Huang, mentions the company in almost all speeches, due to its fundamental role as a connector between the NVIDIA GPU chips and the cloud services that execute intelligent models.
The permanent data currently have 1,000 employees, half or that are in Israel, where the main development center is located in the Tel Aviv exhibition center. The company is directed by two Americans: the CEO Renen Findo of the United States, along with President Mike Wing, a former Dell executive.
Since its foundation in December 2015, the company has shown impressive growth. Last January he reported annual recurring income (RR) or $ 200 million, with a prognosis for a jump to $ 600 million in next year. In recent weeks, permanent data have positioned themselves as an integral part of NVIDIA strategic programs, including the AIQ platform that allows agents to access any type of data, such tables, texts, images and videos, and process data in real time. Market sources estimate that the company is prepared for an OPI, which will probably be one of the largest floats in the coming years.
“Reuters” said Nvidia declined to comment, while no comment was received from fixed data and capitalg.
Posted by Globes, Israel Business News – Y.globes.co.Il – on August 1, 2025.
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