On May 18, Blackstone Group officially announced the establishment of a Joint Venture with Google to create a new company headquartered in the United States. This strategic partnership is designed to deliver efficient data center capacity, Operations, and networking, alongside Google Cloud's Tensor Processing Units (TPUs), offered as a comprehensive "Compute-as-a-Service" solution.
According to the terms of the agreement, Blackstone Group will allocate $5 billion in equity capital from its managed funds as an initial Investment. The new company AIms to bring its first 500 megawatts (MW) of Data Center capacity online by 2027, with ambitious plans for significant horizontal expansion in the future. To support this initiative, google will provide the joint venture with cutting-edge hardware, including its proprietary TPUs, as well as essential software and technical services.
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