EL7.AI
StocksMedium•5 August 2026•
1 min read

CoreWeave Deal Drives 400% YTD Surge in Backblaze Stock Amid AI Infrastructure Boom

Key Facts

1Backblaze stock has surged approximately 4x YTD, driven by AI infrastructure demand.
2The company's backlog has quintupled, largely due to a transformative deal with CoreWeave.

Amid a radical shift in technology markets toward AI infrastructure, Backblaze stock has achieved an exceptional surge, multiplying approximately 4x year-to-date. According to analyst reports, this robust performance is driven by escalating demand for the company's services, with the stock jumping 25% following Q2 earnings results that signaled a significant shift in its growth trajectory.

Data indicates that the primary catalyst for this growth is the strategic partnership with CoreWeave, which has caused the company's backlog to quintuple. Per market data, this momentum in the backlog reflects the company's ability to capitalize on the expansion of AI-specific cloud storage, positioning it strongly against sector peers.

Regarding price levels, CRWV closed at $91.9 (close August 04, 2026), with daily fluctuations between $86.26 and $94.3. As AI momentum continues, investors are watching the sustainability of this revenue growth, particularly following the Fed's decision on July 29, 2026, to hold interest rates at 3.75%, which may impact future infrastructure financing costs.