Athira Sethu
Kochi, 6 March 2025
Nvidia-backed cloud computing firm CoreWeave said Tuesday it is acquiring Weights & Biases, a well-liked AI developer platform. The acquisition is one of the ways CoreWeave is building up its cloud services ahead of a potential initial public offering.
Through the merger, CoreWeave will integrate its cloud infrastructure with Weights & Biases’ AI software. The software is used extensively by AI researchers and developers to train, test, and observe AI models. Several of the largest technology firms, such as OpenAI and Meta, already depend on Weights & Biases to develop and deploy AI applications.
The terms of the deal were not revealed. But as per a report by The Information, the acquisition may be priced at approximately $1.7 billion. Neither CoreWeave nor Weights & Biases was reached out to for comment.
CoreWeave, which is headquartered in Roseland, New Jersey, has been expanding aggressively. The firm has recently announced that its 2024 revenue grew over eight times higher than in the prior year. This growth follows as more firms are looking for robust cloud services to fuel AI development.
CoreWeave offers cloud computing services to large companies. Some of its prominent clients include hedge fund firm Jane Street and technology giants Meta, IBM, and Microsoft. CoreWeave is a specialist in high-performance computing, a requirement for training and executing complex AI models.
CoreWeave is set to float later this year and is slated to list its shares on the stock market. The company hopes for a valuation of over $35 billion when it floats in New York, as per an earlier Reuters report. The IPO may prove to be one of the biggest tech listings of the year, and investors are taking interest in tapping into the AI boom.
With this acquisition, CoreWeave is becoming a significant player in the AI cloud computing market. By incorporating Weights & Biases’ AI tools, the company aims to provide even higher-quality services to businesses and researchers using artificial intelligence.