On May 19, 2026, CNBC reported that Blackstone will commit $5 billion in equity to a new U.S. artificial-intelligence infrastructure company created with Google, according to a Blackstone press release and coverage that cited the Wall Street Journal ahead of the formal announcement.
Deal mechanics CNBC highlights
- Google will supply tensor processing units (TPUs)—chips Google markets as purpose-built for AI workloads—while Blackstone’s statement targets bringing the first 500 megawatts of compute capacity online by 2027, with language about scaling further over time.
- CNBC names Benjamin Treynor Sloss, recently Google’s chief programs officer, as the venture’s leader and notes a Google spokesperson declined to comment on whether Google would retain direct leadership in the company.
- The Wall Street Journal reporting cited by CNBC described Blackstone holding a majority stake, though Blackstone’s own release did not spell out ownership splits when CNBC published; the firm did not respond to CNBC’s comment request by deadline.
Strategic context in the article
CNBC frames the joint venture as another front in Google’s push to compete with Nvidia GPUs while still using Nvidia silicon in parts of Google Cloud. The piece references Blackstone’s broader AI-infrastructure investing—including a separate Anthropic-linked venture reported earlier in May 2026—and notes pre-market share moves of roughly 1% for Alphabet and Blackstone after the news.
CNBC also recounts Google’s long-running TPU program (first-generation hardware dating to 2015 in the article’s timeline) and lists Gemini, Anthropic, and Citadel Securities among customers or partners cited in Google’s TPU narrative.
Primary source: CNBC — Blackstone to invest $5 billion in AI infrastructure venture with Google (May 19, 2026).