Backblaze and CoreWeave reach $335M storage agreement

Backblaze, Inc. (Nasdaq: BLZE) has entered into a multi-exabyte storage agreement with CoreWeave, Inc. (Nasdaq: CRWV) valued at $335 million, according to a press release from Backblaze.

Under the agreement, Backblaze will provide storage capacity to support portions of CoreWeave's managed storage infrastructure. Specifically, the Backblaze technology will support HDD-based storage tiers within CoreWeave AI Object Storage, helping to optimize data placement across performance tiers while preserving high-performance storage resources for AI workloads.

Existing customers using CoreWeave AI Object Storage with its patented LOTA distributed cache will gain access to new service tiers without requiring 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. "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."

Nick Hoover, Vice President at CoreWeave, said: "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."

Backblaze reports serving more than 100,000 customers worldwide. CoreWeave states it serves nine of the top 10 AI model providers.

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