AI boom doubles DDN revenue to $1 billion as CEO Bouzari plans Texas data center

forbes.com

The AI boom has transformed 28-year-old data storage company DDN into a billion-dollar business, with 2026 revenue on track to double to $1 billion and CEO Alex Bouzari becoming a billionaire. Founded in 1998, DDN supplies storage for supercomputers and Nvidia’s AI systems. Revenue grew from about $400 million in 2024 to $500 million in 2025. Blackstone invested $300 million in January 2025, valuing the company at $5 billion. DDN faces competition from Vast Data, Dell, and NetApp. It began selling standalone software in 2023, which carries gross margins above 90%. Bouzari is also developing a Texas data center that could cost over $60 billion.


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AI boom doubles DDN revenue to $1 billion as CEO Bouzari plans Texas data center | News Minimalist