March 4 (Reuters) - Nvidia ( NVDA )-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.

The deal will combine CoreWeave's infrastructure and managed

cloud services with Weights & Biases' platform, which is used

for AI model training, evaluation, and monitoring, the company

said.

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.

The companies did not disclose financial terms of the deal.

Technology news website The Information reported the deal

could be valued at around $1.7 billion, citing unnamed sources.

CoreWeave and Weights & Biases did not immediately respond

to Reuters' request for comment on the Information report.

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.

CoreWeave, whose customers include hedge fund Jane Street,

as well as tech giants Meta, IBM ( IBM ) and Microsoft ( MSFT ),

is expected to aim for a valuation greater than $35 billion in

its New York flotation, Reuters previously reported.

(Reporting by Angela Christy in Bengaluru; Editing by Mrigank

Dhaniwala)