Backblaze Sees AI Boom Fueling Cloud Storage Demand and Neocloud Deals

1 hour ago 2

MarketBeat

Sat, June 6, 2026 astatine 11:02 AM CDT 7 min read

Key Points

Interested successful Backblaze, Inc.? Here are 5 stocks we similar better.
Backblaze says AI request is reshaping its business, with customers looking for retention that tin enactment crossed aggregate GPU providers and “Neoclouds” alternatively of being locked into a azygous hyperscaler. The institution says 1 successful 3 caller bookings present travel from AI-related demand.
The institution is landing larger AI and Neocloud deals, including six-, seven-, and eight-figure contracts, and cited examples similar a $1 cardinal ARR lawsuit signed successful conscionable 11 days. It is besides serving Neoclouds done white-label products specified arsenic B2 Neo.
Backblaze is investing successful higher-throughput products similar B2 Overdrive and Shard Stash to grip ample AI information transfers and small-file uploads. Management said it aims to scope adjusted escaped currency travel positivity by precocious 2025 and for full-year 2026, though bigger opportunities could necessitate much capital.

MarketBeat Week successful Review – 05/04 - 05/08

Backblaze (NASDAQ:BLZE) Chief Executive Gleb Budman said the unreality retention institution is seeing a worldly displacement successful request tied to artificial quality workloads, arsenic customers question alternatives to hyperscaler platforms and newer AI-focused unreality providers look to adhd retention capabilities.

Speaking astatine a BofA exertion concern banking event, Budman described Backblaze arsenic a institution that began astir 20 years agone successful unreality backup and aboriginal built its ain unreality infrastructure aft determining that utilizing Amazon Web Services would marque its archetypal backup work uneconomic.

→ Coke's $10B India IPO Plan Pops the Top connected Hidden Value

Is Backblaze the Next Momentum Monster?

“Our archetypal program was to store that connected AWS,” Budman said. “We did the math, realized we were going to suffer wealth connected each azygous customer.”

Backblaze wrote its ain record strategy and built its ain infrastructure stack, initially to enactment its machine backup product. Budman said customers aboriginal asked to usage that infrastructure for different retention needs, starring to the motorboat of Backblaze B2, which helium said is present the ascendant portion of the business. The institution inactive operates its Computer Backup merchandise and has astir fractional a cardinal paying customers, according to Budman.

AI Workloads Driving Storage Demand

→ Rocket Lab Is Down 24% From Its 52-Week High—Pullback oregon Problem?

Big Rallies Brewing? 3 Analyst Favorites to Watch Closely

Budman said Backblaze has historically attracted customers with a elemental worth proposition: unreality retention astatine astir one-fifth the terms of Amazon S3. But helium said AI has created caller request arsenic companies progressively usage aggregate providers for graphics processing portion capacity, exemplary training, inferencing and contented delivery.

Read Entire Article