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Blackstone (NYSE:BX) has formed a joint venture with Google to create a new U.S. company focused on supplying advanced data center capacity.
The venture will offer Google Cloud TPUs as a compute-as-a-service product to support accelerating AI workloads from enterprises.
An experienced Google executive is set to lead the new platform, combining Blackstone’s capital and infrastructure reach with Google’s AI technology.
At a share price of $116.14, Blackstone is adding a fresh digital infrastructure angle to its existing investment platform. The stock is down 26.9% year to date and down 13.3% over the past year, while still up 49.2% over five years, so this move arrives against a mixed return profile. For investors tracking NYSE:BX, the joint venture marks a clear step into AI-oriented assets that sit closer to core enterprise technology demand.
This new business line introduces exposure to data centers and AI compute capacity that extends beyond Blackstone’s traditional real estate and private equity activities. The scale of the partnership and leadership from a Google executive could make this venture an important reference point when you assess how Blackstone is positioning around AI infrastructure over the long term.
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📰 Beyond the headline: 3 risks and 3 things going right for Blackstone that every investor should see.
Quick Assessment
✅ Price vs Analyst Target: At US$116.14, Blackstone trades about 23.6% below the US$143.65 analyst consensus target.
⚖️ Simply Wall St Valuation: Shares are described as trading close to estimated fair value, so there is no clear valuation gap here.
❌ Recent Momentum: The stock has fallen 4.4% over the past 30 days, showing weak short term momentum.
There is only one way to know the right time to buy, sell or hold Blackstone. Head to Simply Wall St’s company report for the latest analysis of Blackstone’s Fair Value.
Key Considerations
📊 The Google joint venture increases Blackstone’s direct exposure to AI data centers and compute, which could influence how you think about its growth mix over time.
📊 Watch how much capital is committed to the new platform, any revenue share terms with Google, and whether this changes the contribution from digital infrastructure within group earnings.
⚠️ With a 4.08% dividend that is not well covered by earnings or free cash flows, investors may want to check that higher capex or funding needs for the venture do not pressure distributions.
