Backblaze Pivots to AI Infrastructure with $335M CoreWeave Deal

Key Facts

1Backblaze signed a $335M deal with CoreWeave and reported 12% revenue growth with a 60% surge in adjusted EBITDA.

Amid rising demand for AI-powered cloud storage solutions, Backblaze (BLZE) reportedly signed a $335 million deal with cloud infrastructure provider CoreWeave. The company also posted 12% revenue growth and a 60% surge in adjusted EBITDA in the latest quarter.

The deal marks Backblaze's pivot toward offering low-cost, egress-free object storage tailored for AI workloads through its B2 Cloud Storage platform. The company is expanding margins via operating leverage, positioning itself in a competitive space alongside Wasabi and Amazon Web Services.

BLZE closed at $13.42 on June 25, 2026, with a session range of $11.92–$14.63. Investors will watch for further updates on the CoreWeave partnership and additional AI infrastructure deals as key catalysts.