Backblaze Lands $335M Five-Year Multi-Exabyte Storage Deal With CoreWeave
BLZE•Backblaze signed a $335 million, five-year multi-exabyte storage deal with CoreWeave, enabling immediate code-free integration for AI Object Storage users. The contract expands CoreWeave’s capacity to billions of gigabytes, coinciding with Backblaze shares jumping 25% to near seven-month highs.
1. Multi-Exabyte Storage Deal
Backblaze agreed to provide CoreWeave with multi-exabyte storage capacity under a $335 million, five-year contract, ensuring immediate integration for AI Object Storage customers without code changes.
2. Stock Surge and Market Reaction
The announcement drove Backblaze shares up 25%, reaching their highest level since late 2025 as investors bet on the company’s strengthened role in AI cloud infrastructure.
3. Strategic Positioning in AI Cloud
By partnering with CoreWeave, Backblaze cements its position as a scalable storage provider for high-performance AI workloads, leveraging its platform to meet escalating infrastructure demands.
4. Growing AI Data Center Demand
The global AI data center market, valued at $147.3 billion in 2025 and projected to reach $810.6 billion by 2033 at a 23.9% CAGR, underscores long-term demand for scalable storage solutions.
