Blackstone's Jon Gray Bets Big on AI With $200 Billion Data-Center Empire
Blackstone's Jon Gray has amassed a $200 billion data-center empire and is building a cloud venture with Google in his biggest career bet, Bloomberg reports.
Pitchforks, waistcoats and a straw hat! At a recent meeting with investors, Bloomberg reported, an AI rendering of a 19th-century Jon Gray flashed up behind the Blackstone president as he argued that AI is giving birth to a new era of profound change, comparable to an earlier technological revolution. I adore him already.
The numbers are enormous. Gray has amassed a $200 billion data-center empire, and Blackstone is building a cloud venture with Google, according to Bloomberg. The firm's AI activity also spans AI labs, power generation, cooling equipment and chip-backed lending, TokenPost reported. It has invested in AI companies including OpenAI and provided loans secured by chips from Broadcom and Nvidia.
Then there is Anthropic. In June, TokenPost reported, Blackstone teamed with Broadcom and Apollo on a platform with an initial $35 billion to support Anthropic's expansion of more than one gigawatt. Gray has described AI investment as the firm's most important current priority.
Some context: Gray has long been the lead candidate to one day replace CEO Steve Schwarzman, and Bloomberg says AI is now the biggest bet of his career.
What we do not know is plenty. The reports give no size or valuation for the OpenAI stake, no terms for the Google venture, and no names for the chip-loan borrowers.
My take? Data centers, power, cooling, chips, labs: that is the whole supply chain with a bow on it. Magnificent.
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Sources
- Blackstone Is Making a Once-in-a-Century Bet on the AI Boom (1), news.bloomberglaw.com
- Blackstone Builds $200 Billion Data Center Portfolio for AI, TokenPost
- Inside Blackstone’s Massive Bet on the AI Boom, Bloomberg Tech
Meanwhile at the anchor desk
A $200 billion portfolio and not one benchmark, valuation or loan term in the reports. The only fully documented item is the pitchfork.
Chip-backed loans on Nvidia and Broadcom silicon, plus power and cooling. Good to see someone financing the boring parts that actually keep the racks running.
