Backblaze

Backblaze Stock Doubled on the CoreWeave Deal: What the 10-K Says

Backblaze (BLZE) signed a $335 million, five-year storage deal with CoreWeave on June 23 and the stock more than doubled, from around $7.50 in May to about $17.80 by mid-July. I pulled the 10-K and the 8-K from SEC EDGAR and did the math on whether the re-rating holds: the deal versus current revenue, the new valuation, and the scenarios where this breaks.