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TechFlow news: On May 19, according to The Wall Street Journal, Google—owned by Alphabet—and Blackstone Group plan to jointly establish an AI cloud company centered on Google’s custom chips, directly competing with rivals such as CoreWeave. Blackstone will contribute $5 billion in equity capital and hold a majority stake in the new company. The deal was officially announced on Monday local time, and the new company’s name has not yet been disclosed.
According to The Wall Street Journal, Google, a subsidiary of Alphabet, and Blackstone Group plan to jointly establish an AI cloud company centered on Google’s proprietary chips, directly competing with rivals such as CoreWeave. Blackstone will contribute $5 billion in equity capital and hold a majority stake in the new company. The deal was officially announced on Monday local time, and the new company’s name has not yet been disclosed.
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