Blackstone, Google to Invest $5 Billion in AI Cloud Computing Joint Venture

Generative AI is driving corporate demand for high-performance computing, prompting cloud providers and major asset managers to accelerate investment in data centers. The partnership combines Blackstone’s capital and infrastructure capabilities with Google’s in-house TPU chips to target the compute-as-a-service market.

Blackstone and Google have announced an AI infrastructure joint venture that plans to invest $5 billion and offer TPU computing capacity as a cloud service to external customers. The new company expects to bring its first computing capacity online in 2027, further expanding Google’s push to sell its AI chip capabilities to outside customers.