Backblaze stock surges 32% on $335M CoreWeave deal for AI data storage infrastructure

Backblaze Stock Rises After $335 Million Five-Year Storage Deal With CoreWeave - Backblaze (NASDAQ:BLZE)

* Backblaze stock is among today's top performers. Why is BLZE stock up today? The Deal Under the agreement, Backblaze will provide cost-efficient HDD-based storage capacity that supports portions of CoreWeave's managed storage infrastructure, helping optimize data placement across performance tiers while preserving high-performance storage resources for AI workloads. The Backblaze technology supports HDD-based storage tiers in CoreWeave AI Object Storage, and customers already utilizing CoreWeave AI Object Storage will immediately have access to new service tiers without any code modifications. "Storage is the foundation every AI workflow is built on -- without it, even the world's most powerful compute sits idle," said Gleb Budman, co-founder and CEO of Backblaze. "This collaboration demonstrates how our platform can help organizations meet growing infrastructure demands." Why It Matters The $335 million agreement represents a meaningful revenue commitment for Backblaze, which serves more than 100,000 customers worldwide. CoreWeave serves nine of the top ten AI model providers and is one of the fastest-growing AI cloud platforms in the world -- making the partnership a significant validation of Backblaze's enterprise storage capabilities and its positioning as a cloud storage platform for the AI era. Every stage of the AI lifecycle -- training, inference, checkpointing, data preparation, model outputs, and retrieval-augmented generation -- requires storage that performs at the speed and scale modern AI demands. The deal positions Backblaze directly at the center of that infrastructure buildout. "Backblaze has built a reputation for making complex, HDD-based storage infrastructure reliable and easy-to-consume at scale," said Nick Hoover, Vice President at CoreWeave. "We're pleased to work with them as we continue expanding our platform and managed service offerings to support AI workloads at scale." Backblaze Shares Trade Higher BLZE Price Action: At the time of publication, Backblaze shares are trading 32.02% higher at $10.72, according to data from Benzinga Pro. This illustration was generated using artificial intelligence via Midjourney. This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

Backblaze stock surges 20% on CoreWeave storage deal By Investing.com

Investing.com -- Backblaze Inc. (NASDAQ:BLZE) shares rose 20% Tuesday following the announcement of a five-year, $335 million data storage agreement with CoreWeave Inc. (NASDAQ:CRWV). Under the multi-exabyte agreement, Backblaze will provide storage capacity supporting portions of CoreWeave's managed storage infrastructure. The technology will support HDD-based storage tiers in CoreWeave AI Object Storage, helping optimize data placement across performance tiers while preserving high-performance storage resources for AI workloads. The deal enables customers using CoreWeave AI Object Storage with its LOTA distributed cache to access new service tiers without code modifications. The storage infrastructure is designed to support various AI lifecycle stages including training, inference, checkpointing, data preparation, model outputs, and retrieval-augmented generation. "Storage is the foundation every AI workflow is built on -- without it, even the world's most powerful compute sits idle," said Gleb Budman, co-founder and CEO of Backblaze. "We're pleased to work with CoreWeave on elements of their storage environment. This collaboration demonstrates how our platform can help organizations meet growing infrastructure demands." Backblaze serves more than 100,000 customers worldwide and operates large-scale storage infrastructure designed to deliver storage services across enterprise and data-intensive use cases. Nick Hoover, Vice President at CoreWeave, commented, "Backblaze has built a reputation for making complex, HDD-based storage infrastructure reliable and easy-to-consume at scale. We're pleased to work with them as we continue expanding our platform and managed service offerings to support AI workloads at scale." CoreWeave's AI cloud platform serves leading AI model developers, enterprises, and research organizations, including 9 of the top 10 AI model providers. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Backblaze, Inc. and Coreweave, Inc. Announce Five-Year Multi-Exabyte Data Storage Agreement

Backblaze, Inc. announced an agreement with CoreWeave, Inc. Under the multi-exabyte, $335 million agreement, Backblaze, Inc. will provide cost-efficient storage capacity that supports portions of CoreWeave, Inc.?s managed storage infrastructure, helping optimize placement of data across performance tiers while preserving high-performance storage resources for the demands of AI workloads. The Backblaze, Inc. technology supports HDD-based storage tiers in CoreWeave, Inc. AI Object Storage. Customers already utilizing CoreWeave, Inc. AI Object Storage with its patented LOTA distributed cache will immediately have access to new service tiers without any code modifications. Every stage of the AI lifecycle depends on the ability to store and move massive volumes of data efficiently. Training, inference, checkpointing, data preparation, model outputs, and retrieval-augmented generation (RAG) all require storage that performs at the speed and scale modern AI demands. Backblaze, Inc. serves more than 100,000 customers worldwide and has extensive experience operating large-scale storage infrastructure. Its cloud platform is designed to deliver reliable, cost-efficient storage services across a range of enterprise and data-intensive use cases. CoreWeave, Inc.?s AI cloud platform spans infrastructure, technology, tools, and services. The company serves AI model developers, enterprises, and research organizations, including 9 of the top 10 AI model providers.