Cloud computing firm CoreWeave has plans to acquire AI developer platform Weights & Biases as it seeks to bolster its infrastructure offerings in the fast-expanding AI sector.
STORY CONTINUES BELOW
The deal, which is expected to close in the first half of 2025, cost CoreWeave $1.7 billion, according to a report by The Information.
Weights & Biases, which in 2023 was valued at $1.25 billion, has become a staple in the AI development community, with researchers and engineers using its tools to manage complex machine learning workflows.
By acquiring the company, CoreWeave aims to integrate its cloud computing services with Weights & Biases’ tools, offering a more seamless experience for AI developers.
The acquisition comes just days after the cloud computing provider filed for an initial public offering (IPO) on Tuesday, with the company expected to raise $4 billion with a valuation of more than $35 billion.
CoreWeave also tapped bitcoin miner Core Scientific (CORZ) to build 500 megawatts (MW) of infrastructure for AI-related purposes.