Tech giants like Microsoft (NASDAQ: MSFT) and Meta have been splurging on artificial intelligence (AI) accelerators and building out massive AI data centers but also have been relying on start-up CoreWeave to meet soaring demand for AI computing capacity.

Cloud computing firm CoreWeave has plans to acquire AI developer platform Weights & Biases as it seeks to bolster its infrastructure offerings in the fast-expanding AI sector. The deal, which is expected to close in the first half of 2025, cost CoreWeave $1.7 billion, according to a report by The Information.

CoreWeave, a cloud-computing provider that’s one of the hottest startups in artificial intelligence, filed for an initial public offering disclosing rapidly growing revenue.