Blackstone, Google Launch $5B AI Infrastructure JV
Blackstone and Google have announced a joint venture to create a new U.S.-based company that will offer data center capacity, operations, networking, and Google Cloud’s Tensor Processing Units as a compute-as-a-service offering, giving enterprise customers an alternative channel to access Google’s purpose-built AI chips beyond the Google Cloud platform directly.
Blackstone is making an initial $5 billion equity commitment from funds under its management, with the new company expected to bring the first 500 megawatts of capacity online in 2027 and plans to scale significantly beyond that threshold.
Google will supply hardware including TPUs, software, and services to the venture. Benjamin Treynor Sloss, a longtime Google infrastructure executive, will lead the company.
“We see a generational opportunity to invest capital at scale building AI infrastructure,” said Jon Gray, President and COO of Blackstone. “We are incredibly proud to partner with Google — bringing together their world class TPUs and AI capabilities with Blackstone’s exceptional strength in energy and digital infrastructure.”
Thomas Kurian, CEO of Google Cloud, added that the venture expands access to infrastructure optimized for the demands of the AI era. “Together, we’re accelerating AI transformation and providing more options for organizations to access accelerated compute capability,” he said.
Blackstone manages over $1.3 trillion in assets and is the largest global provider of data centers.
The Real Estate Forces Reshaping Los Angeles
Coming up on May 28th: Connect Los Angeles is bringing the leaders actively making decisions across investment, development, policy and finance for a sharper conversation about the realities of operating in LA today. Attend for candid discussions featuring leadership from CBRE, Cushman & Wakefield, BGO, Blackstone, Kennedy Wilson, and the city’s leadership – including Mayor Karen Bass and Antonio Villaraigosa. Secure your seat: Connect Los Angeles 2026