Shares of Backblaze (BLZE +4.33%) rose sharply on Tuesday after the cloud storage platform's second-quarter financial results exceeded investors' expectations. AI-fueled gainsBackblaze's revenue climbed 18% year over year to $42.7 million, driven by a 34% surge in its B2 Cloud Storage revenue to $26.6 million. By integrating specialized hardware and software, Backblaze can offer high-performance yet affordable storage solutions for artificial intelligence (AI) and other data-intensive workloads. The company's net revenue retention rate for its B2 Cloud Storage offering checked in at an impressive 113%. Expand NASDAQ : BLZE Backblaze Today's Change ( 4.33 %) $ 0.82 Current Price $ 19.64 Key Data Points Market Cap $1.2B Market cap calculated using publicly traded shares outstanding only.