Nvidia-backed data security company Cohesity is eyeing a potential 2026 market debut. CEO Sanjay Poonen told CNBC exclusively that he expects a valuation that could rival its $17 billion peer Rubrik. CNBC's Ganesh Rao has the story.

Cohesity, a California-based data security company supported by Nvidia, is considering a public market debut in 2026. CEO Sanjay Poonen indicated the company could seek a valuation comparable to its $17 billion peer, Rubrik. Cohesity specializes in data backup and restoration services and has recently merged with Veritas, resulting in a valuation of about $7 billion. The company aims to showcase a full year of financial results before going public, leveraging its AI-powered data solutions and Nvidia's endorsement to attract investor interest.

Nvidia-backed Cohesity eyes 2026 market debut

NVIDIA backed data security company Cohesity is now looking at a potential market debut next year with the CEO Sanjay Poonen telling CNBC exclusively that he expects a valuation that could rival its $17 billion peer rubric. Ganesh joins us with more, you've been digging deep into this, what have you learned? So Cohesity is a data security firm, they essentially help companies with their data backup and crucially when things go wrong with the data restoration process. It's a California headquartered company which actually filed for an IPO in 2021 and if you remember just before the market tanked in 2022 and shut off the IPO market. Now Cohesity instead used that time to merge with their larger rival called Veritas. After the deal they were valued at about $7 billion. Now the company's CEO Sanjay Poonen told me earlier that 2026 is the year they want to go public. When exactly next year? It could be the start of as early as the start of next year or it could be as late as fall or autumn of next year. My sense is that they want to wait for full year's financial results and demonstrate to public market investors that they have a lot of potential and that's when that might happen. Do you think it benefits from some glow from NVIDIA? Is there some sort of awe that emanates from NVIDIA to Cohesity? Well sure, having NVIDIA as a major strategic investor it sort of demonstrates there is NVIDIA has confidence in Cohesity's products. They also have an AI play. They provide AI search solutions on the data that's been backed up. Previously data backup is just this data that's just put in the corner. There's no actual use for it but this company has found a way to leverage that previously discarded data and provide solutions based off that. So there is a lot of potential there.

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