Backblaze Surges 25% After Striking $335M Five-Year Storage Deal With CoreWeave

Backblaze (BLZE) shares surged 25% on Tuesday after the cloud storage firm struck a $335 million, five-year deal with CoreWeave (CRWV) to expand storage capacity to multi-exabyte levels. Current CoreWeave AI Object Storage customers can immediately utilize the expanded services without code updates, the company said.

According to Grand View Research, the global AI data center market was valued at $147.3 billion in 2025 and is projected to reach $810.6 billion by 2033, expanding at a compound annual growth rate of 23.9% through 2033.