MARKET MOVEMENT
Pure Storage announces investment in CoreWeave to accelerate AI cloud services
Pure Storage and CoreWeave , the AI Hyperscaler , have announced Pure Storage ’ s strategic investment in CoreWeave to accelerate AI cloud services innovation . Alongside the investment , the companies unveiled a strategic partnership , enabling customers to leverage the Pure Storage platform within CoreWeave Cloud .
Building on their shared success with some of the world ’ s most advanced AI companies , this collaboration helps to fuel the next generation of AI innovators , driving breakthroughs with CoreWeave ’ s cloud services and the Pure Storage platform . By adding Pure Storage as a partner , CoreWeave recognises Pure Storage ’ s 15 years of innovation in flash technologies and its proven track record with some of the world ’ s top AI companies .
The Pure Storage platform is now available as an option within CoreWeave ’ s dedicated environments , which customers access through the CoreWeave Platform , a no compromise engineering solution purpose-built for some of the world ’ s most compute intensive workloads .
The CoreWeave Platform uses automation to simplify complexity , maximising infrastructure performance and efficiency , while Pure Storage offers a highly scalable , efficient storage solution , with joint solutions already deployed in production at supercomputing scale across thousands of GPUs . Together , they empower customers to accelerate their time to market .
“ Our strategic collaboration with CoreWeave reflects a shared commitment to delivering AI innovation at scale and marks a major milestone in delivering the flexibility and scalability that AIdriven organisations
Rob Lee need to thrive . Integrating the Pure Storage platform into CoreWeave ’ s specialised cloud service environments enables customers that require massive scale and flexibility in their infrastructure the ability to tailor their infrastructure and maximise performance on their own terms ,” said Rob Lee , Chief Technology Officer , Pure Storage .
As AI reshapes industries , companies must build scalable , future-ready infrastructure to manage massive data and computational demands while staying agile in an ever-evolving landscape .
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Cohesity completes combination with Veritas ’ enterprise data protection business
Sanjay Poonen
Cohesity announced the completion of its combination with Veritas ’ enterprise data protection business , ushering in a new era in protecting the world ’ s data . Now the world ’ s largest data protection software provider by market share , Cohesity will serve over 12,000 customers – including over 85 of the Fortune 100 and nearly 70 % of the Global 500 – and protect hundreds of exabytes of the world ’ s data .
With the completion of this combination , Cohesity now offers the broadest workload support and one of the largest partner ecosystems in the data protection industry .
Cohesity has become the fastest data protection company to cross $ 1.5 billion in revenue , reaching that milestone in 11 years . On a pro forma adjusted basis for the fiscal year ending July 2024 , the combined entity had revenue of over $ 1.7 billion , annual recurring revenue , ARR of $ 1.5 billion , and a 28 percent adjusted cash EBITDA margin .
“ This is a major milestone in the 11-year history of Cohesity , whose mission is to protect , secure , and provide insights into the world ’ s data ,” said Sanjay Poonen , President and CEO , Cohesity .
The combined company will offer cloudscale and AI-powered data security and management , Generative AI-driven insights , an easy-to-use management interface , and a comprehensive multicloud data protection portfolio . Cohesity now supports the broadest range of workloads within a highly scalable modern architecture .
For years to come , Cohesity will continue to invest in and advance the roadmap and strategy for all products brought from both companies into the new combined portfolio . This includes all existing Cohesity products and services and all the Veritas solutions covered by the combination agreement , including Veritas NetBackup , Veritas NetBackup appliances , and Veritas Alta data protection offerings .
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