Cloud-based AI infrastructure start-up CoreWeave has agreed to acquire AI developer platform Weights & Biases.
Founded in 2017, Weights & Biases serves more than one million AI engineers. Its software is adopted by enterprises such as OpenAI, Meta, NVIDIA, and Toyota for AI model development and application deployment.
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The financial terms of the deal have not been made public by the companies.
In a press statement, the Nvidia-backed cloud company said that the deal will merge CoreWeave’s infrastructure and managed cloud services with the Weights & Biases’ capabilities in AI model training, evaluation, and monitoring.
CoreWeave co-founder and CEO Michael Intrator said: “Weights & Biases has built a phenomenal platform to help organisations of any size and across a range of industries to build, deploy and monitor AI training and inference applications.”
CoreWeave said it will offer new innovations to the Weights & Biases platform while maintaining the functionality and dependability.
Weights & Biases co-founder and CEO Lukas Biewald said: “We have long admired CoreWeave. We have a shared alignment of vision and values, and we are obsessively focused on helping our customers get to market faster with our cutting-edge technology and services.
“Together with CoreWeave, we will bring this grit and passion for innovation to customers at an even greater scale, with the goal of rapidly accelerating adoption across the world’s leading AI labs and enterprises.”
Subject to closing conditions and regulatory approvals, the transaction is planned to be completed in the first half of 2025.
The deal comes ahead of CoreWeave’s IPO. In November 2024, it was reported that CoreWeave is targeting a valuation in excess of $35bn. The IPO is scheduled for the second quarter of 2025.
