Google and Blackstone Form AI Data Center Joint Venture with $5B Initial Equity

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Google and Blackstone announced a joint venture to offer AI-focused data center capacity, with Blackstone making an initial $5 billion equity investment and the venture targeting 500 MW of capacity online by 2027. The deal underscores how AI infrastructure is increasingly financed through private-equity-backed JVs as hyperscaler capex tops $650B in 2026 against persistent power constraints.