Blackstone commits equity to a Google TPU cloud venture

Equity committed to a new compute provider

Blackstone announced the joint venture on May 18, 2026, with Reuters reporting the announcement that day. Google's own account followed on May 19. Under the partnership terms, Blackstone-managed funds committed an initial $5 billion of equity while Google would provide TPU hardware, software and services. [1][3][2]

The first 500 MW of capacity was expected in 2027. The sources establish a specific equity and joint-venture commitment, rather than a service already operating at that scale; they did not disclose a name for the new operating company. [1][2]