Nvidia-backed CoreWeave said on Tuesday that it is acquiring AI developer platform Weights & Biases as the company seeks to extend its cloud platform ahead of its IPO.
FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File PhotoNvidia-backed CoreWeave said on Tuesday that it is acquiring AI developer platform Weights & Biases as the company seeks to extend its cloud platform ahead of its IPO.
Weights & Biases's product is used by technology companies including OpenAI and Meta to build and train AI models and develop and deploy AI applications.Technology news website The Information reported the deal could be valued at around $1.7 billion, citing unnamed sources. Roseland, New Jersey-based CoreWeave earlier this week moved ahead with its listing plans this year and reported a more than eight-fold surge in 2024 revenue.
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