Backblaze provides cloud storage and data backup services for individuals, businesses, and developers. Its products include Backblaze Computer Backup, which automatically backs up computers for a fixed monthly fee, and Backblaze B2 Cloud Storage, an affordable IaaS with S3-compatible APIs for developers and enterprises. The company runs on purpose-built, commodity-hardware infrastructure and publishes detailed drive-performance reports to ensure transparency, with features like cloud replication and flexible version history. Its goal is to offer simple, affordable, and reliable data protection and cloud storage that scales from individuals to enterprises.
Company Size
201-500
Company Stage
IPO
Headquarters
San Mateo, California
Founded
2007
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WEKA partnering Backblaze for its B2 cloud storage. Chris Mellor STORAGE EDITOR Blocks & Files editor Published thu 10 Sep 2026 // 14:03 UTC WEKA, which supplies high-speed unstructured data access for AI and accelerated computing, has a deal with Backblaze to store data needed for re-use in its B2 cloud storage. The two companies say GPUs need extremely fast access to data to stay fed, while the datasets, checkpoints and outputs surrounding those workloads are growing toward enormous scale and that data can need retaining. They are combining WEKA NeuralMesh for performance-sensitive AI and accelerated computing workloads with Backblaze B2 cloud object storage as the capacity layer for large datasets and retained AI assets. In effect, hot data in WEKA and cold data in B2's cloud. Data can be kept on the appropriate tier as it moves through ingestion, training, checkpointing, inference and downstream workflows. You can't keep once hot AI data on flash for ever. Gleb Budman, Backblaze's CEO, said: "AI teams need their GPUs fed and an infrastructure with the performance and capacity to support the full AI data workflow. WEKA has mastered the performance tier. Blocks & Files has spent nearly two decades doing the same for capacity storage. Together, AI teams get a qualified, complete solution to ensure fast and efficient production,. WEKA Chief Strategy Officer Nilesh Patel, neatly put forward WEKA's point of view: "AI workloads are stretching storage in two directions at once. GPUs need microsecond access to data to stay fed, while datasets and checkpoints are growing to exabyte scale. Our collaboration with Backblaze gives customers a validated path to both - without the cost of building and testing that integration themselves. Speed where it matters, scale wherever you need it." For example, raw training data (training sets, media libraries, source files) can reside in B2, move into NeuralMesh when needed for a performance-sensitive workload, and checkpoints and outputs can then return to B2 for retention and future reuse, or in situations where recovery to an earlier stage of testing is necessary. WEKA's Snap-to-Object capability has tested with Backblaze, enabling teams to recover checkpoints or saved inference data from the B2 capacity tier. Backblaze recently signed a $335 million strategic agreement with CoreWeave for that Neocloud to use B2 cloud storage for retained AI data. Coreweave is the fourth major AI cloud infrastructure company to contract with Backblaze in this way. Certification of B2 Cloud Storage for NeuralMesh is underway. Customers can contact Backblaze or WEKA to get started. Bootnote. Scality and WEKA set up a similar deal to the WEKA-Backblaze one, using WEKA's NeuralMesh high-performance storage with Scality RING's cost-efficient object tier, in February this year. Backblaze competitor Wasabi is also providing cloud storage for AI. It has formed a dedicated AI business, and appointed semiconductor and storage veteran Pinaki Mukherjee as SVP and GM to lead it. It says it stores hundreds of petabytes of AI data for frontier model labs, generative AI startups, and Neocloud compute providers worldwide. The new AI business will bring dedicated strategy, partnerships and go-to-market focus for this demand as AI infrastructure matures. Wasabi raised $70 million for AI cloud storage funding in January, and subsequently arranged a $250 million credit facility.
Backblaze and WEKA have announced a collaboration to simplify data management across the AI lifecycle. The partnership combines WEKA's NeuralMesh platform, designed for performance-intensive AI workloads, with Backblaze B2 cloud object storage for large-scale data retention. The solution allows AI teams to keep performance-sensitive workloads on WEKA NeuralMesh whilst storing large datasets, checkpoints, and outputs in Backblaze B2. The integration has been pre-validated, eliminating the need for customers to build and test their own systems. Customers can retain raw training data in B2 and transfer it to NeuralMesh when needed for high-performance computing. WEKA's Snap-to-Object capability enables teams to revert to previous checkpoints or recover inference data. Certification of B2 Cloud Storage for NeuralMesh is currently underway. Backblaze serves over 500,000 customers, whilst WEKA is trusted by 30% of the Fortune 50.
Backblaze, Inc. (Nasdaq: BLZE), the storage platform powering AI and data-intensive workloads, today announced the pricing of $175 million aggregate principa...
Backblaze has priced a $175 million offering of convertible senior notes due 2031, up from the previously announced $150 million. The storage platform company granted initial purchasers an option to buy an additional $26.25 million in notes. The sale is expected to close on 24 August 2026. The notes carry a 0% interest rate and can be converted at an initial price of approximately $21.94 per share, representing a 30% premium over Backblaze's 19 August closing price of $16.88. The company estimates net proceeds of approximately $167.2 million after fees. Backblaze will use about $15.2 million for capped call transactions to reduce potential dilution from note conversions. The remainder will fund general corporate purposes, including capital expenditures. The notes mature on 15 August 2031.
Backblaze stocks hit 55-month high, CoreWeave deal drives 50% surge. 2026-08-04 07:09:54 Key Takeaways * Backblaze Inc. stock soared nearly 50% in Tuesday's opening trade after reporting Q2 earnings per share of $0.08 on $42.7 million revenue. * Backblaze reported B2 Cloud Storage revenue of $26.6 million, up 34% year-on-year, driven by the $335 million CoreWeave strategic agreement. * Backblaze raised its full-year 2026 revenue forecast to $172 million-$174 million, with CoreWeave contract minimum commitments expected by mid-2027. Shares of Backblaze Inc. (BLZE) soared nearly 50% in Tuesday's opening trade, hitting their highest levels in about 55 months after the cloud storage company reported second-quarter (Q2) earnings per share of $0.08 on revenue of $42.7 million, exceeding Wall Street expectations of $0.02 on $39.9 million. The strong performance was driven by a $335 million strategic agreement with CoreWeave Inc. (CRWV) and rising AI demand for data-intensive workloads. The Q2 results prompted multiple Wall Street analysts to raise their price targets on BLZE stock, with Oppenheimer lifting its target to $25 from $15, Lake Street to $21 from $14, and Citizens to $21 from $16, all maintaining positive ratings. AI infrastructure spending and growing enterprise customer traction are fueling momentum in the cloud storage sector as companies seek scalable, cost-effective solutions for AI workloads. Oppenheimer raises BLZE price target to $25 on CoreWeave deal strength. Oppenheimer analyst Ittai Kidron raised his price target on Backblaze to $25 from $15 while maintaining an 'Outperform' rating, saying B2 cloud storage revenue came in well ahead of expectations. Kidron attributed the strong quarter to rising AI demand, improving traction with larger enterprise customers and Backblaze's largest-ever deal with CoreWeave. The analyst said those factors underscore the company's positioning as AI infrastructure spending continues to expand, with the CoreWeave agreement serving as a key contributor to the quarter's outperformance. Lake Street lifts price target to $21 citing CoreWeave revenue ramp. Lake Street raised its price target on Backblaze to $21 from $14 while maintaining a 'Buy' rating, saying revenue from the CoreWeave partnership is expected to build gradually through 2026 because of data transfer limits and the time required to onboard managed services. The firm expects the contract's minimum revenue commitments to "fully kick in" by mid-2027, prompting it to raise its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) estimates for both 2026 and 2027. Lake Street said the phased ramp supports stronger profitability over the next two years as the CoreWeave relationship matures. Citizens raises price target to $21 on broad-based business momentum. Citizens analyst Rustam Kanga raised his price target on Backblaze to $21 from $16, while reiterating an 'Outperform' rating. The analyst pointed to the company's higher full-year outlook, citing broad-based business strength rather than a single growth driver. According to Citizens, strong sales execution, resilient customer retention, growing AI-related demand and the CoreWeave contract support Backblaze's growth outlook, with the raised guidance reinforcing confidence in the company's momentum. Backblaze CEO Gleb Budman reports Q2 EPS of $0.08 on $42.7M revenue. Backblaze co-founder and CEO Gleb Budman called Q2 "an amazing quarter" after the company exceeded the high end of its revenue and adjusted EBITDA guidance. The company reported earnings per share (EPS) of $0.08 on revenue of $42.7 million, while Wall Street expected an EPS of $0.02 on revenue of $39.9 million, according to Fiscal.ai data. Backblaze stated that its B2 Cloud Storage revenue climbed 34% year-on-year to $26.6 million, driven by growing demand for AI and data-intensive workloads. Budman highlighted the company's recently announced $335 million strategic agreement with CoreWeave as validation of Backblaze's role in the AI infrastructure stack, saying AI workloads require scalable, cost-effective storage where the company is "built to win." Backblaze also raised its full-year 2026 outlook, increasing its revenue forecast to $172 million-$174 million from $161.5 million-$163.5 million, compared to Wall Street estimates of $164.2 million. Retail sentiment on BLZE stock reaches extremely bullish levels. Retail sentiment on Stocktwits around Backblaze trended in the 'extremely bullish' territory with message volumes at 'extremely high' levels. BLZE stock is up 398% year-to-date and 349% over the past 12 months. The iShares Russell 2000 Growth ETF (IWO) is up 31% over the past 12 months, while the iShares Micro-Cap ETF (IWC) is up 49%. Faq. What did Backblaze report for Q2 earnings? Backblaze reported Q2 earnings per share of $0.08 on revenue of $42.7 million, exceeding Wall Street expectations of $0.02 on $39.9 million. B2 Cloud Storage revenue climbed 34% year-on-year to $26.6 million. Why did BLZE stock surge nearly 50% in Tuesday's opening trade? BLZE stock surged after the company reported stronger-than-expected Q2 results and announced a $335 million strategic agreement with CoreWeave Inc. Analysts attributed the performance to rising AI demand, improving traction with larger enterprise customers, and the CoreWeave deal. What price targets did analysts set for Backblaze stock? Oppenheimer raised its price target to $25 from $15 with an 'Outperform' rating. Lake Street raised its target to $21 from $14 with a 'Buy' rating. Citizens raised its target to $21 from $16 with an 'Outperform' rating. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.