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Barchart
Barchart
Nauman Khan

Backblaze Stock Jumps on Huge CoreWeave AI Deal. The Bull Case Is Getting Stronger.

Backblaze CoreWeave

Backblaze (BLZE) is suddenly looking like more than a quiet data storage name. The stock jumped 44% on Tuesday to $11.7 after the company signed a $335 million, five-year deal with CoreWeave (CRWV) to support AI storage demand. That is a huge number for a company that posted only $79.9 million in cloud-storage revenue in 2025, and it helps explain why traders rushed in so fast.

The bigger point is that Backblaze is getting pulled into the AI buildout differently than chipmakers or cloud giants. It is not selling raw compute. It is selling the storage layer that AI systems still need in large volumes. That gives the stock a fresh narrative, even if the business is still small and the move has already been violent.

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