CoreWeave Finalizes Acquisition of AI Developer Platform Weights & Biases

This press release from May 6, 2024, announces the completion of CoreWeave’s acquisition of Weights & Biases.

According to the press release, CoreWeave, Inc. (NYSE: CRWV) (“CoreWeave”) today announced that it has completed its previously announced acquisition of Weights & Biases. CoreWeave is a leading provider of AI cloud platform solutions.

As part of a broader move to strengthen its position in powering AI innovations, CoreWeave provides cutting-edge software that supports accelerated computing and meets the increasing demands of AI innovation.

The acquisition was approved by both companies' boards of directors and builds on the existing partnership between the two companies to provide best-in-class support for AI developers. The combination of CoreWeave’s advanced cloud platform, tailored for accelerating AI development and deployment, with Weights & Biases’s best-in-class AI developer platform is expected to bring together complementary strengths and create significant synergies.

“We are excited to complete this acquisition and welcome the Weights & Biases team to the CoreWeave family,” said Michael Intrator, CEO and co-founder of CoreWeave. “This combination will allow us to better serve our customers by combining hardware and software layers, unlocking new capabilities and features for developers. We believe that together, we can push the boundaries of AI capabilities and deliver exceptional value to our customers.”

The merger will also maintain a strong focus on interoperability, with customers having the flexibility to choose from a variety of deployment options, infrastructure providers and AI frameworks.

“We are thrilled to join forces with CoreWeave to empower and serve the vibrant community of AI developers even more effectively,” said Lukas Biewald, co-founder of Weights & Biases. “This integration promises to unlock exciting possibilities for both companies and the broader ecosystem.”

Evercore and Morgan Stanley acted as financial advisors to CoreWeave in connection with the acquisition. Davis Polk & Wardwell LLP served as legal counsel to CoreWeave. Qatalyst Partners acted as financial advisor and Orrick, Herrington & Sutcliffe LLP served as legal counsel to Weights & Biases.